While the rest of the world slowed, investment banking and capital markets activity has grown in Indonesia this year. Why?
It’s a combination of factors really that have put Indonesia very much in the spotlight. On the capital markets side you have seen the Republic of Indonesia issue a sukuk bond and the state-owned electricity company PLN [Perusahaan Listrik Negara] issue a [$1 billion 10-year] bond in the past couple of weeks. Citi was a joint bookrunner on both.
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