EM ASIA CREDIT: Cikarang Listrindo (CIKLIS, Ba1/BBB-/NR) mandate for new $ deal
Feb-26 01:08
Cikarang Listrindo (CIKLIS, Ba1/BBB-/NR)
"*MANDATE: CIKARANG LISTRINDO UP TO $350M 144A/REGS SENIOR NOTES" - BBG
- The Indonesian power company, Cikarang Listrindo, has mandated banks on a new $ deal.
- The company has a $550m 9/26 bond with a 3/25 par call.
- Documents indicate a size up to $500m, not $350m as reported in the headline.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
JGBS: Data-Light Session, Focus On Markets To Tariff News
Jan-27 00:59
In Tokyo morning trade, JGB futures are little changed, +1 compared to settlement levels.
- Today, the local calendar will see Coincident/Leading Index alongside an Auction for Enhanced-Liquidity 5-15.5 YR.
- US stock futures are dealing lower ahead of key earnings week, with the S&P 500 and the Nasdaq down ~0.50%.
- “In a social media post on Sunday, Trump said he ordered an emergency 25% tariff on all Colombian goods coming into the US, which will be raised to 50% in a week. Oil, gold, coffee and flowers top the list of exports, according to Colombia’s tax authorities.” (per BBG)
- Cash bonds are dealing 1-4bps richer in today’s Asia-Pac session, with a flattening bias, after finishing Friday mildly stronger.
- Cash JGBs are slightly richer across benchmarks after the BoJ delivered the much-anticipated 25bp rate hike to 0.50% on Friday, with a vote of 8-1. Board member Nakamura voted against the rate hike. The benchmark 10-year yield is 0.2bp higher at 1.234% versus the cycle high of 1.262%.
- Swap rates are ~0.5bp higher. Swap spreads are mixed.
US TSYS: Cash Bonds Open Richer After The Weekend’s Tariff News
Jan-27 00:21
TYH5 is dealing at 108-19+, +0-04+ from NY closing levels, in today’s Asia-Pac session.
- US stock futures are dealing lower ahead of key earnings week, with the S&P 500 and the Nasdaq down ~0.50%.
- “In a social media post on Sunday, Trump said he ordered an emergency 25% tariff on all Colombian goods coming into the US, which will be raised to 50% in a week. Oil, gold, coffee and flowers top the list of exports, according to Colombia’s tax authorities.” (per BBG)
- Cash bonds are dealing 1-3bps richer in today’s Asia-Pac session, with a flattening bias, after finishing Friday mildly stronger.
- Focus this week is the FOMC policy announcement on Wednesday.
GOLD: Gold Opens Cautiously in Asia As Tariff Risk Heightens.
Jan-27 00:05
- Gold has had a stellar start to 2025 and last week delivered the best weekly gains thus far.
- Gold gained +2.4% last week driven by a ‘safe-haven’ bid in the face of mounting tariff risks.
- This week has started no differently with news that President Trump intends to levy up to 25% tariffs on Colombia following the turning away of a flight from the US, deporting illegal immigrants.
- Gold closed Friday at US$2,770.58 and has given some of that back in early trading, down to $2,767.00
- Over the weekend Ghana’s released it’s trade surplus details, rising US$5bn, driven by a 50% increase in gold exports to $11.6bn.
