Indonesia Eximbank's $500 million debut attracts exuberant demand

Indonesia Eximbank takes its place as one of Asia’s benchmark borrowers, while China Shanshui Cement's dollar bond is delayed due to documentation issues.

Indonesia Eximbank on Thursday night priced a $500 million inaugural dollar bond, attracting exuberant demand from investors. The five-year bonds priced at a yield of 3.9%, at the tight end of the final guidance, which was 3.9% to 4%, and about 22.5bp inside the initial guidance of 4.125%.

Indonesia Eximbank is 100% owned by the Indonesian government through the Ministry of Finance. The bank is rated Baa3 by Moody’s and BBB- by Fitch, which...

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