Indonesian textile maker Sritex turned to international bond investors this week, finding more than enough cash to pay back a series of debt payments it is facing over the coming year.
The company, which has been listed on the Jakarta Stock Exchance since 2013, raised $150 million from a seven non-call four-year bond, joining a recent fundraising rush in the region. That will allow Sritex to pay back a mix of bonds and loans, including $119.3 million of bonds and MTNs falling due over the next two years.
Sritex was also able to extend its debt maturity. The standard deal structure for Asian high yield bonds...
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