Indonesia's latest fundraising finds investors uncertain about the market

The Republic of Indonesia is in the midst of a roadshow, the success of which will determine whether it will print its benchmark $1bn-$1.5bn 10 and/or 30 year bond issue in a window of opportunity tomorrow (Thursday) — or put it back until next week. The market in Asia today was described by investors as “good in the morning — terrible this afternoon”. The New York leg tonight — conducted by the finance minister, Sri Mulyani Indrawati — will likely decide the execution strategy of the lead managers Barclays Capital, HSBC and Lehman Brothers. Read EuroWeek on Friday to find out what they do with the first Asian bond issue attempting to come to market in 2008.