IDBI braves tricky market with dollar bond return, dodges Cyprus fall-out, political changes at home

Indian state-owned bank IDBI had to overcome a choppy secondary market, political uncertainty and the spectre of a Cypriot bank run before making its return to the dollar bond market this week. But it did just that, managing to generate many times the demand it needed, while other issuers across Asia stayed well and truly out of the action, writes Matthew Thomas.