In today’s briefing:
- Cikarang Listrindo – Tear Sheet – Lucror Analytics
- Lucror Analytics – Morning Views Asia
Cikarang Listrindo – Tear Sheet – Lucror Analytics
- Cikarang Listrindo (CL) has launched a roadshow to market a 144A/RegS senior unsecured notes offering of up to USD 350 mn.
- The proceeds will likely be used to refinance the company’s USD 500 mn 4.95% bonds due September 2026. We see fair value for the proposed notes at c.
- 150 bps above the relevant Treasury benchmark.
Lucror Analytics – Morning Views Asia
- In the US, the ISM manufacturing index edged down to 50.3 (50.7 e / 50.9 p) in February.
- This was on account of a contraction in the new orders and employment components, which were offset somewhat by a sharp increase in the prices paid component.
- Meanwhile, the February (final) S&P manufacturing PMI rose to 52.7 (51.2 p), above the preliminary estimate of 51.6.
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