Indosat revives Asian high yield market

Lead managers Credit Suisse First Boston, Goldman Sachs and JPMorgan have given Asia's beleagured non-investment grade sector a much needed boost following the successful completion of a $250 million issue for PT Indosat (Thursday). The Reg S 144A seven non-call five deal had an unexpectedly strong investor showing and proved to be a classic example of how to use a small issue size and wide guidance to gain traction and tight pricing.