Indonesia to return to the international bond markets

For the first time since the Asian financial crisis, a state-owned entity is preparing a dollar bond.

HSBC is believed to have won a mandate to launch a debut Eurobond for government-owned Bank Mandiri. What is expected to be a small-sized, three to five year issue represents a major strategic move for the bank as it prepares for listing on the Jakarta Stock Exchange next year and on a wider level, a first test of investors' faith in the Megawati government.

Since the financial crisis, there has been virtually no dollar debt of any kind from corporate...

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