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06-07-2017, 12:50 PM
Nasi Goreng Bonds, Anyone?
By Andy Mukherjee
July 6, 2017, 4:00 AM GMT+8
The Chinese made a full meal of offshore dim sum debt, and Indians have started nibbling into masala securities. Now Indonesians are contemplating nasi goreng bonds. Will investors step up to the plate?
Like the other two, this would also be local-currency corporate borrowing, but in global debt markets. Creditors, rather than debtors, will bear the risk of rupiah depreciation. Kartika Wirjoatmodjo, president director of PT Bank Mandiri, the country's largest lender by assets, told me he's exploring the option for PT Jasa Marga Persero, the operator of the Indonesian highway system.
That a toll-road company could become the first issuer of such debt isn't a surprise. From telecom to ports to subways, infrastructure is the most exciting investment opportunity in Indonesia right now. President Joko Widodo is on a building spree, hoping the private sector will follow suit with its own investment plans, something it has been reluctant to do since the China-fueled commodity boom started going bust three years ago.
More details in https://www.bloomberg.com/news/articles/...-investors
By Andy Mukherjee
July 6, 2017, 4:00 AM GMT+8
The Chinese made a full meal of offshore dim sum debt, and Indians have started nibbling into masala securities. Now Indonesians are contemplating nasi goreng bonds. Will investors step up to the plate?
Like the other two, this would also be local-currency corporate borrowing, but in global debt markets. Creditors, rather than debtors, will bear the risk of rupiah depreciation. Kartika Wirjoatmodjo, president director of PT Bank Mandiri, the country's largest lender by assets, told me he's exploring the option for PT Jasa Marga Persero, the operator of the Indonesian highway system.
That a toll-road company could become the first issuer of such debt isn't a surprise. From telecom to ports to subways, infrastructure is the most exciting investment opportunity in Indonesia right now. President Joko Widodo is on a building spree, hoping the private sector will follow suit with its own investment plans, something it has been reluctant to do since the China-fueled commodity boom started going bust three years ago.
More details in https://www.bloomberg.com/news/articles/...-investors
Specuvestor: Asset - Business - Structure.