Indofood draws crowds with Rp1 trillion bond issue

There is keen interest in Indofood Sukses Makmur's proposed Rp1 trillion ($116 million) five-year bond issue - a presentation in Jakarta earlier this week drew around 1,000 people, the bulk of whom were not just there for the free noodles. Indonesian insurers, among others, need rupiah assets to match their liabilities and there is a shortage of creditworthy issuers in the market to satisfy their demand. Hence the excitement caused by Indofood, the world's biggest noodlemaker, which is rated AA+ by Pemeringkat Elek Indonesia (PEFINDO).