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[JAKARTA] Indonesia is preparing to sell bonds in the global market in early December to help finance the state budget 2016, a Finance Ministry official said on Thursday.
"We are preparing," Scenaider Siahaan, director of borrowing strategy at the ministry, told Reuters. "The room in December is tight. If too late, investors would already be on vacation and we have the Fed meeting in the middle. So my feeling is we would do it early in the month." Mr Siahaan declined to specify the issuance size, but said "it wouldn't be too big".
Indonesia raised US$4 billion in a US dollar bond issuance in January this year, with yields of 4.200 per cent for 10-year notes and 5.200 per cent for 30-year notes.
This year, Indonesia's state budget deficit is set to reach 2.59 per cent of gross domestic product, bigger than expected and near the legal limit of 3 per cent, as revenue is far below the target.