Danamon makes high yield debut

Singapore halo effect comes back into play.
March 24, 2004

PT Bank Danamon completed a maiden subordinated debt issue yesterday (Wednesday), pricing its Reg S deal inside of guidance and credit comps. At $300 million, the issue size was large for the Indonesian market and effectively doubles the $425 million outstanding subordinated debt universe of deals by BNI, Bank Mandiri and Bank Rakyat Indonesia.

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