Indonesia plans up to $4 bln funding programme-source

Thu Dec 11, 2008 11:38pm EST  

HONG KONG, Dec 12 (Reuters) - Indonesia has picked seven investment banks as advisers for a funding programme of up to $4 billion next year, a source with direct knowledge of the plans said on Friday. 

Indonesia picked Barclays (BARC.L: Quote, Profile, Research, Stock Buzz), CIMB, Citigroup (C.N: Quote, Profile, Research, Stock Buzz), Credit Suisse (CSGN.VX: Quote, Profile, Research, Stock Buzz), Deutsche Bank (DBKGn.DE: Quote, Profile, Research, Stock Buzz), Nomura Securities, and UBS (UBSN.VX: Quote, Profile, Research, Stock Buzz), according to the source. 

"They are not looking to fund immediately. They've selected banks as panel advisers for their funding programme for next year," said the source, who declined to be identified as he is not authorised to speak publicly about the plans. 

"Not all of this $4 billion may come to the bond markets," he added. "They could use loans and other means. It's not all determined." 

Earlier on Friday, Indonesia's finance ministry said it plans to issue the country's maiden global sukuk bond in February 2009. [ID:nSP217484] 

(Reporting by Rafael Nam; Editing by Jacqueline Wong)