Indonesia was not the only sovereign to impress in 2011. Euromoney has long argued the importance of deep, liquid, sophisticated local-currency bond markets in Asia, and the transaction that most clearly spelled out how much improvement has taken place came from Thailand, with a Bt40 billion ($1.26 billion) inflation-linked bond that priced in July.
Chakkrit Parapuntakul, director general of the ministry of finance’s public debt management office, says:
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For full details and the story behind this deal, click here