Sri Rejeki Isman Sritex began its global investor roadshow in Asia, the UK and the US on Monday, following Lippo in raising an offshore bond as investor confidence returns supported by improving macroeconomic conditions and positive election developments.
The Indonesian garment manufacturer has mandated Barclays as sole bookrunner and lead manager for a proposed Reg-SRule 144A dollar-denominated offering, according to a source familiar with the matter.
Moody’s, which has assigned a provisional B1 rating on Sritex’s bond, expects a proposed issuance size of up to $300 million by its wholly owned subsidiary, Golden Legacy. Proceeds will be used to refinance the group’s roughly $200 million bond...
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