(Insider Stories) - Indonesia is preparing to sell islamic dollar-denominated bonds as credit risk in the region eases from a six-week high. Together with Singapore, the country arrange investor meetings starting today to sale of Shariah-compliant notes.
 
This year, Indonesia targeting to raise bonds issuance (netto) Rp241.3 trillion to finance the budget's deficit. They plans to issue dollar denominated bonds with total value above US$3 billion divided into Global Medium Term Notes and Syariah's bond.

Debt Director General of Finance Minister Robert Pakpahan said, to finance additional government bonds issuances IDR60.7 trillion in 2013's revised budget, Indonesia's will issue dollar, domestic and retail bonds.

Indonesia sold $1 billion of notes due 2023 last month and $1.5 billion each of 10- and 30-year securities in April. Indonesia last sold US currency Islamic debt in November, when it borrowed $1 billion selling 10-year notes.
 
Meetings to market the latest offering will be held in London on Friday, followed by Jeddah, Saudi Arabia, on Sunday and then Abu Dhabi and Dubai, United Arab Emirates, on Tuesday, the person familiar with the matter said.