pt-truba-readies-highyield-deal-as-kexim-drops-samurai

PT Truba readies high-yield deal as Kexim drops Samurai

The Indonesian construction firm mandates UBS for its Reg-S three-year senior bond transaction, while KoreaÆs Export-Import Bank shelves its Ñ30 billion Samurai.
April 24, 2008
Indonesia's PT Truba Alam Manunggal Engineering has mandated UBS in what could be the first high-yield bond deal in Asia this year. In less than a week, three bonds have priced including the year's first non-government linked bond transaction Swire, and the region's first triple-B deal Nine Dragons Paper.

Truba has announced its intention to raise dollar funds in a Reg-S three-year senior bond transaction following an investor roadshow in Hong Kong today, Singapore April 28 and 29, and London May 1 and 2.

The notes, listed in Singapore, are expected to be rated BstableBstable by Standard and PoorÆs and Fitch.

No details of the expected size...
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