Capital Markets, Indonesia, Research & Consultancy - Monday, December 21, 2009 14:29 - 0 Comments

IFR Asia: Southeast Asia debt capital markets guide: Indonesia

IFR Asia Southeast Asia DCM report – Indonesia

December 2009

Regional bankers tend to express more disappointment about the Indonesian rupiah bond market than any other in southeast Asia in 2009. It didn’t do badly, exactly, but it probably did less than other markets to emphasize its role as a liquid alternative funding source to dollar debt.

ThomsonReuters data says Rp16.8 trillion was raised in 2009 by November 19, already ahead of the Rp16.01 trillion for all of 2008 but well short of Rp24.85 trillion in 2009. That said, many in the industry, interviewed in November, believed there was plenty more to come in 2009, with some still expecting a Rp30 trillion total for the year that would put it in a wholly different light. In particular, an expected Rp3 trillion or larger sub debt raising from Bank Mandiri, due to be settled in December, was being closely watched. Continue…

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