Gajah Tunggal Offers Dollar Debt as Sales Drop to Three-Week Low
This article is for subscribers only.
PT Gajah Tunggal is marketing U.S. dollar-denominated notes as sales in Asia outside of Japan slid to a three-week low. Debt risk in the region fell.
The Indonesian tire maker is offering five-year securities at a yield of about 8 percent, a person familiar with the matter said, asking not to be identified because the terms aren’t set. Hainan Airlines Co. is also planning a note in the currency, a separate person said. Companies in Asia have sold $3.1 billion of bonds this week, down from a 17-week high of $6 billion for the five days ended Jan. 11, according to data compiled by Bloomberg.