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Slowdown expected in Indonesia as elections loom

Indonesia’s ratings upgrade last week is positive, but came ahead of an expected slowdown in investments into the southeast Asian country ahead of the 2019 general election, say market watchers.

  • By Morgan Davis
  • 16 Apr 2018
Last Friday, Moody’s upgraded the government of Indonesia’s rating to Baa2 from Baa3. The change was announced in the run up to the country’s election, which will see president Joko Widodo up for re-election. The election is scheduled to take place in April 2019, with campaigning starting later ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
Excludes PPs. Click for full table
1 China Merchants Securities Co 19.83
2 Industrial and Commercial Bank of China (ICBC) 14.01
3 CITIC Securities 11.86
4 Agricultural Bank of China (ABC) 10.78
5 China CITIC Bank Corp 9.70

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
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For detailed analysis: Dealogic
  • Last updated
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1 Goldman Sachs 14,889.27 66 7.86%
2 Morgan Stanley 12,834.37 54 6.77%
3 Citi 12,128.00 77 6.40%
4 UBS 9,354.44 62 4.94%
5 China International Capital Corp Ltd 9,279.56 33 4.90%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
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1 HSBC 19,033.85 159 7.36%
2 Citi 19,000.89 119 7.35%
3 JPMorgan 12,589.46 73 4.87%
4 Bank of America Merrill Lynch 11,854.05 73 4.59%
5 Goldman Sachs 10,460.58 48 4.05%

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