JAKARTA, KOMPAS.com - Indonesia plans to begin a
roadshow next week for a global sukuk issue of around $1 billion, the
country's finance minister said.
Agus Martowardojo told Dow
Jones Newswires late Wednesday that the government has met with
arrangers of the issue and will start visiting “global financial hubs“
next week, raising the prospect of imminent issuance. The government has
previously said that a global sukuk issuance would be likely in the
third quarter.(source)
Martowardojo said late last month that he was
“optimistic“ investor demand would meet the $1 billion mark it set as
guidance, despite global financial market jitters brought about by
sovereign debt problems in the U.S. and the European Union. “Investors
interested in sukuk are very specific,“ he said on Aug. 23.
The
government aims to use proceeds from the issuance to help finance its
budget deficit, which it estimates will reach the equivalent of 2.1% of
gross domestic product by the end of 2011. It also hopes the issue will
expand Islamic finance in the world's most populous Muslim country.
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