Indonesia re-opens Asian bond market

but sends mixed signals to prospective borrowers.

The Republic of Indonesia returned to the international bond markets after New York's open yesterday April 13 with a $1 billion 10-year deal via Citigroup, Deutsche Bank and UBS. After a three week delay caused by exceptionally difficult market conditions, the government was finally able to congratulate itself on getting the issue size it wanted if not the price.

Backed by an order book of $2.2 billion, a B2BBB- rate transaction was...

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