September 2006
Indonesia’s bond market comes back to life
The Republic of Indonesia’s successful $2 billion issue this March has given an impetus to the revival of the country’s corporate bond issuance. Nick Parsons reports.
INTERNATIONAL INVESTMENT BANKERS are flooding back into Jakarta. It’s just like the old days.
Not so much the equity market hotshots – for few Indonesian companies want to get listed these days or do convertible bonds. And certainly not the syndicated loan bankers who used to finance a huge market before the 1997/98 crisis but are reluctant to lose their money again. But definitely the debt capital markets bankers – who see Indonesia as being at the forefront of the long-imagined Asian high-yield market.
“In the international capital markets at the moment, Indonesia is in a sweet spot,” says Suresh Narang, chief country officer and head, global markets, at Deutsche Bank in Jakarta. “There is a high degree of convergence – you have the need for capital and the willingness to provide it.”
Indonesia was regarded as a pariah back in 2002 but there has been a fundamental change in that...
You must be a Level 2 subscriber to access this archived content.
If your subscription includes access to the archive, please log in now to view.
To gain access to this content visit the subscription page or call our hotline on +44 (0)207 779 8999.
Subscribe online now and save up to 30% on your subscription.
If you are a trialist or subscriber, please enter your username and password at the top right-hand side of euromoney.com
Subscribers to Euromoney benefit from:
Level 1:
- Online access to the past 12 months content
- Tailored RSS news feeds direct to your desktop
- News delivered directly to your mobile device or PC
- Personalised email newsfeed of 'Top stories' and 'Breaking news'
Level 2:
- Exclusive access to euromoney.com - Read the latest issue early online, search for specific developments by region or sector, interrogate the results of Euromoney's benchmark polls, and view the archive dating back to 2000
- 12 monthly issues of Euromoney magazine
- More than 30 specialist research guides free
- The results of Euromoney’s polls and surveys
- Tailored RSS news feeds direct to your desktop
- News delivered directly to your mobile device or PC
- Personalised email newsfeed of 'Top stories' and 'Breaking news'
Click here to subscribe