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Indonesia wades into euros, but bankers debate premium
The Republic of Indonesia priced its debut euro-denominated bond on Thursday and was met with overwhelming demand from yield hungry investors. But bankers are now in a fierce debate about how much of a concession the borrower had to pay to secure its first euro trade — and whether it was worth it, writes Virginia Furness.
European investor demand for yield has driven a 59% rise in euro-denominated EM issuance compared to the same period last year, according to Dealogic. According to a senior syndicate banker at one of the leads, that meant the sovereign was very much aware of what the market could
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