Solusi Tunas Pratama STP sold a $300 million five-year non-call three bond late Thursday, becoming the second Indonesian tower operator to tap international debt markets in a little over a week.
The company, the third-largest tower leasing company in Indonesia, priced the Reg S-only bond at an all-in yield of 6.25%, which is 25 basis points tighter than its initial price guidance area of 6.5%, according to a term sheet seen by FinanceAsia.
Orderbooks for STP's bond reached over $1 billion from 125 accounts, with 73% of the offering going into Asian accounts and the rest to European investors. Fund managers subscribed to 71%...
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