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Indonesian corporates go offshore and into rupiah as USD loan costs rise
April 30, 2012
The onshore-offshore pricing differential for Indonesian corporates borrowing domestically in US dollars has blown out to 1.5% sending borrowers offshore and into rupiah for funding.
An onshore dollar liquidity crunch has sent Indonesian corporates offshore for US dollar funding. Foreign banks interested in gaining exposure to the rapidly growing market are happy to oblige but mostly to the larger, better known corporates. Less well known...
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