Indonesia closes $1 billion bond amid muted demand

Indonesia is first to go after pause in debt markets, raising $1 billion after budget deficit is wider than expected.

Indonesia closes $1 billion bond amid muted demand
Indonesia has revised its funding needs after the budget deficit turned out to be wider than expected

The Republic of Indonesia priced a $1 billion bond on Wednesday night, the first dollar bond out of Asia ex-Japan in more than a month.

While the first five months of 2013 saw unprecedented supply from the region, the sharp spike in US Treasury yields in May and June sparked a dramatic sell-off in Asian credit. The last dollar bond was Huaneng’s $400 million bond, which crossed the line early June with help from Chinese...

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