Indonesia Goverment scrapped a sale of 30-yearbonds, a sign the busiest start to the year for emerging-market foreign currency borrowing in a weakening investor appetite as funds switch into higher-yielding local debt.
Indonesia sold $2 billion of 5.875 percent notes maturing in March 2020 at a 6 percent yield. Formerly, the government had aimed to raise as much as $4 billion. In the same time, Filipina,
Mexico, Poland and Turkey sold $8.86 billion in overseas debt this year.
Mexico, Poland and Turkey sold $8.86 billion in overseas debt this year.
Indonesia will use the proceeds of the sale to help finance the budget deficit. Investors bid for 2.3 times the bonds offered, according to Waluyanto. The government hired Barclays Capital Plc, Citigroup Inc. and Credit Suisse Group.
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