Indonesia to offer $15.2b in bonds to global investors

Indonesia's fundamentals remain sound, but the rupiah has weakened this year by about 10 per cent, making it the second-worst performer in Asia, after the Indian rupee.
Indonesia's fundamentals remain sound, but the rupiah has weakened this year by about 10 per cent, making it the second-worst performer in Asia, after the Indian rupee.PHOTO: REUTERS

Finance Ministry, 3 state-owned firms plan to raise funds for acquisitions, working capital

Indonesia's Finance Ministry and three state-owned companies plan to offer at least US$11 billion (S$15.2 billion) in bonds to global investors to fund acquisitions, plug budget deficits, and as working capital.

Senior officials from state oil company Pertamina and state mining holding company Inalum are travelling to Europe and the United States to meet global investors this week to gauge demand for the bonds before they decide on pricing, sources said.

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A version of this article appeared in the print edition of The Straits Times on October 24, 2018, with the headline 'Indonesia to offer $15.2b in bonds to global investors'. Print Edition | Subscribe