Indonesian fixed, mobile and internet access provider PT Indosat has reported strong investor demand for its USD650 million bond offering on 22 July. The bond issue, which is being placed through Indosat Palapa Company, was announced in conjunction with a tender offer on the telco’s existing USD300 million 7.75% guaranteed notes – which are due in 2010 – and the USD250 million 7.125% guaranteed notes – which are due in 2012. Local press reports say the offering created the largest ever book order for an Indonesian deal (USD10.5 billion), equivalent to a sixteen-fold oversubscription rate. It is understood that in excess of 400 accounts participated in the transaction with 40% of the bonds distributed in Asia, 33% in the US and 27% in Europe. By type of investors, fund and asset managers accounted for 70%, private banks 15%, insurance companies and pension funds 8%, banks 5% and others 2%.