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Indonesia's Matahari Putra sets talks for $100 million to $150 million notes at 10%
By Reshmi Basu
New York, Sept. 28 - PT Matahari Putra Prima TBK set price talk for a resurrected $100 million to $150 million offering of three-year notes (B1/B+) at 10%, according to a market source.
The notes will be non-callable for one year.
UBS and Credit Suisse are managing the Regulation S sale.
In June, the issuer first attempted to sell $150 million in five-year bonds, for which guidance was set at the 9% area. The deal was shelved due to market volatility.
The issuer is an Indonesian retailer, with about 28% of the department store market share in the country.
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