Investors are still wary of Indonesian credit stories. With this in mind, Bank Mandiri should receive praise for its careful and thoughtful approach to the bond markets. It realized early on that to get the markets comfortable with its name and so allow it greater access to capital it was going to have to take the process slowly and step by step. Its success should make it easier for other Indonesian borrowers. As one banker says: “Other Indonesians want to enter the market and the likes of Mandiri are opening things up and making it very possible for this to happen.
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