Indonesia Goverment delayed a planned sale of yen denominated bonds (Samurai Bonds) until the second half of this year because Finance Minister Sri Mulyani Indrawati resigned.
President Susilo Bambang Yudhoyono yesterday didn't name a replacement. The Samurai bonds sale, originally planned for June, was delayed indefinitely.
The government will issue yen-denominated T-bond or known as Samurai Bond worth maximum US$1.15 billion by the end of April or early May through Japan Bank for International Cooperation (JBIC) guarantee facility.
On July 17, 2009, Indonesia issued the first Samurai Bond worth 35 billion yens (equivalent to US$350 million) through private placement to institutional investors, such as Japanese insurers and banks.
The government takes advantage of JBIC guarantee to issue samurai bond since the Japanese development bank has AAA rating.
The government takes advantage of JBIC guarantee to issue samurai bond since the Japanese development bank has AAA rating.
Sri Mulyani will start June 1 as one of the Washington-based World Bank's three managing directors, the highest rank under President Robert Zoellick.
The government hired Daiwa Securities Capital Markets Co. and Nomura Securities Co. to help sell the bonds, which are 95 percent backed by the state-owned Japan Bank for International
Cooperation.
The government hired Daiwa Securities Capital Markets Co. and Nomura Securities Co. to help sell the bonds, which are 95 percent backed by the state-owned Japan Bank for International
Cooperation.
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