ciliandra-cooks-with-new-dollar-deal

Ciliandra cooks with new dollar deal

Following an extensive roadshow schedule, Citigroup prices a debut deal for Indonesian palm oil producer Ciliandra at the tight end of guidance.

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December 04, 2006

Indonesian palm oil producer Ciliandra Perkasa completed its international debt capital markets debut with an upsized five-year $160 million Reg-s144a deal via sole bookrunner Citigroup on Friday night December 1.

The B2B rated deal, carrying a bullet structure, was being marketed to investors at an indicative range of 10.75% to 11%. When the deal priced it came at the tight end of guidance at par with a coupon of 10.75 and a spread of 636bp over US treasuries.

When the new deal for Ciliandra opened in trading on Friday night, it quickly traded higher with a bid of 101% at the break.

The lead was able to upsize the deal by around...

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