International Nickel Indonesia's approximately $300 million bond expected in May

By Paul A. Harris

St. Louis, May 3 - PT International Nickel Indonesia is expected to offer about $300 million of international bonds in May, pending market conditions, according to an informed source.

Morgan Stanley and JP Morgan have the bookrunning mandate. Credit Suisse First Boston is the co-manager.

Moody's Investors Service has assigned its Baa3 issuer rating to Inco. Standard & Poor's, meanwhile, assigned Inco a BBB- issuer rating.

Proceeds will be used as working capital.

International Nickel Indonesia, which is 61% owned by Canada's Inco Ltd., is a fully integrated nickel mining and processing company located in Soroako, South Sulawesi, Indonesia.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.