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.
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