US demand lifts Pertamina

摘要

Pertamina (Baa2/BBB-/BBB) last Wednesday priced a US$750m 30-year bond issue at 6.65%, successfully reviving a transaction that was cancelled just the previous week because of an extremely volatile trading period across global financial markets. Although appetite was still fragile, and a rare but clear window attracted some competition in Asian primary credit markets, the Indonesian state-owned oil and gas company still managed to draw a considerable amount of demand, especially in the US.