Indonesia’s APL Realty offers seven-year bonds at 6¼% area yield

By Colin Hanner

Chicago, May 25 – APL Realty Holdings Pte. Ltd. is offering a seven-year dollar-denominated bonds with price talk in the 6¼% area, a market source said.

The Regulation S notes (Ba3//BB-) will be guaranteed by Agung Podomoro and some of its subsidiaries, Moody’s Investors Service and Fitch Ratings said in news releases.

The notes are non-callable for four years.

Proceeds will be used to refinance existing local-currency secured debt, which will free up more of its property portfolio from encumbrances, Fitch said.

The issuer is a subsidiary of Agung Podomoro, an Indonesian property developer.

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