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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 15.31
2 Industrial and Commercial Bank of China (ICBC) 12.35
3 CITIC Securities 8.92
4 Agricultural Bank of China (ABC) 7.60
5 China CITIC Bank Corp 6.76

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 Goldman Sachs 17,772.74 86 7.59%
2 Morgan Stanley 14,624.46 73 6.24%
3 Citi 14,439.29 99 6.16%
4 UBS 13,054.43 87 5.57%
5 China International Capital Corp Ltd 11,814.82 50 5.04%

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Rank Lead Manager Amount $m No of issues Share %
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For detailed analysis: Dealogic
  • Last updated
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1 HSBC 26,525.17 229 7.80%
2 Citi 23,876.05 159 7.02%
3 JPMorgan 15,519.87 98 4.57%
4 Goldman Sachs 13,938.23 69 4.10%
5 Bank of America Merrill Lynch 13,897.70 88 4.09%

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