Primary Credit Watch
- Bumi Serpong Damai to Sell USD 5NC3 Bonds, IPT 7% Area
Guarantors: PT Bumi Serpong Damai and certain of its subsidiaries
Issuer: Global Prime Capital Pte. Ltd.
Issuer ratings: Ba3/–/BB-
Exp. issue ratings: Ba3/–/BB-
Size: Up to $250m
Reg S
UOP: Capital expenditure for development of new investment properties and infrastructure as well as for land bank acquisitions and GCP
GC: Citi
JBRs: Citi, UBS
- Intl Healthway to Sell SGD 2Y Bonds, IPT 7% (The Number)
Issuer: International Healthway Corp.
Unrated
UOP: To refinance existing debt
Bookrunner: OCBC
- Hongkong Land to meet bond investors via HSBC, Stanchart
- Shenzhen Qianhai roadshow for CNH bonds starts today
- Reliance Communications to meet bond investors from today
PT BUMI SERPONG DAMAI TBK
Initial Price Thoughts: 7.00% Area
5-year (non-call 3-year)
Some details on the company’s business:
PT Bumi Serpong Damai Tbk is an Indonesia-based real estate developer. The Company is engaged in planning and development of a new city, which is a planned and integrated residential area with amenities/infrastructure, environmental facilities and parks, designed to become a self-sufficient city called BSD City. Its business segments are divided into land, industrial building, house, shop house, office space, education centre, industrial building and hotel. The Company’s projects under the name Bumi Serpong Damai are located in Serpong District, Legok District, Cisauk District and Pagedangan District in Tangerang Regency, Banten Province. It has four direct subsidiaries, namely PT Duta Pertiwi Tbk, PT Sinar Mas Wisesa, PT Sinar Mas Teladan and PT Bumi Paramudita Mas. On January 24, 2014, it establish subsidiaries, namely PT Transbsd Balaraja and PT Duta Mitra Mas. On February 11, 2014, it acquired Rasuna Epicentrum commercial district from PT Bakrie Swastika Utama.
Sinarmas Land subsidiary, good track record
United Envirotech Mandates DBS, StanChart for Meetings
(Bloomberg) — Co. to meet investors in Singapore today, Hong Kong tomorrow.
Current United Envirotech 7.25% 09/2016 indic 101.50/102.25 (6.08/5.51%)