Reported about 1 year ago
Indonesia's state-run power utility's dollar bonds have been the worst performers in Asia over the past two weeks due to escalating worries about the country's debt levels, particularly impacting local borrowers facing $6 billion in maturities by the end of 2025. This has led to increased yield premiums on notes from various state firms like PT Perusahaan Listrik Negara, PT Pertamina, and PT Hutama Karya, with the average spreads of corporate and quasi-sovereign notes widening six basis points in June as President-elect Prabowo Subianto plans to increase the nation's debt ratio for his proposed spending. This situation has elevated concerns about future external debt repayments and the general risk perception in the region.
Source: YAHOO