Best Non-Investment Grade Bond Deal
PT Adaro's $400 million senior secured notes issue
Lead managers Goldman Sachs, JPMorgan
Legal counsel Milbank Tweed Hadley McCloy, Latham Watkins, Bahar Partners
This category was by far the most difficult to judge in the fixed income awards. Adaro's landmark transaction was up against Vietnam, which bought a tightly priced debut issue to market this year after a 10-year wait and numerous stops and starts.
But we decided Adaro deserved the award because it is so symbolic on a number of fronts. During a year in which market windows in...
