Wave of hungry Indo borrowers to head offshore
All eyes will be turning to Indonesia this quarter, with debt bankers expecting a raft of loans and bonds to hit the offshore dollar market. Many names are already doing the rounds, and the fact that some are simultaneously seeking loans and bonds speaks volumes about their strategy to diversify their funding sources while trying to get the best out of pricing, write Rashmi Kumar and Isabella Zhong.
Indonesian names have been high on the radar of loans bankers for the past few weeks. Pelabuhan Indonesia III (or Pelindo III), a state-owned sea ports manager, sent out requests for proposals for loans worth $203m last week. At about the same time, Indonesia Eximbank mandated banks to