By Wendy Van Sickle
Columbus, Ohio, July 9 – The Republic of Indonesia sold ¥100 billion bonds (Baa2/BBB/BBB) due 2023, 2025, 2027, 2030 and 2040, according to a news release.
The republic priced ¥50.7 billion of 1.13% three-year bonds and ¥24.3 billion of 1.35% five-year bonds.
Indonesia priced ¥10.1 billion of 1.48% seven-year bonds.
The republic priced ¥13.4 billion of 1.59% 10-year bonds and ¥1.5 billion of 1.8% 20-year bonds.
All issues priced at par on July 2 and settled on Wednesday.
Daiwa Securities Co. Ltd., Mitsubishi UFJ, Morgan Stanley Securities Co., Ltd., Nomura Securities Co., Ltd. and SMBC Nikko Securities Inc. were joint lead managers for the deal.
Indonesia’s Ministry of Finance noted in the news release that the Samurai bond market has been “relatively quiet due the Covid-19 market disruption” and said this was the first sovereign Samurai issue in 2020.
Proceeds will be used to finance Indonesia’s budget deficit, including to fund its Covid-19 relief and recovery efforts.
| Issuer: | Republic of Indonesia
|
| Amount: | ¥100 billion
|
| Description: | Samurai bonds
|
| Joint lead managers: | Daiwa Securities Co. Ltd., Mitsubishi UFJ, Morgan Stanley Securities Co., Ltd., Nomura Securities Co., Ltd. and SMBC Nikko Securities Inc.
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB
|
| Fitch: BBB
|
| Trade date: | July 2
|
| Settlement date: | July 8
|
| Distribution: | Public offering
|
|
|
| Three-year bonds
|
| Amount: | ¥50.7 billion
|
| Maturity: | July 7, 2023
|
| Coupon: | 1.13%
|
| Price: | Par
|
| Yield: | 1.13%
|
| Spread: | Yen Swap Offer plus 110 bps
|
|
|
| Five-year bonds
|
| Amount: | ¥24.3 billion
|
| Maturity: | July 8, 2025
|
| Coupon: | 1.35%
|
| Price: | Par
|
| Yield: | 1.35%
|
| Spread: | Yen Swap Offer plus 130 bps
|
|
|
| Seven-year bonds
|
| Amount: | ¥10.1 billion
|
| Maturity: | July 8, 2027
|
| Coupon: | 1.48%
|
| Price: | Par
|
| Yield: | 1.48%
|
| Spread: | Yen Swap Offer plus 140 bps
|
|
|
| 10-year bonds
|
| Amount: | ¥13.4 billion
|
| Maturity: | July 8, 2030
|
| Coupon: | 1.59%
|
| Price: | Par
|
| Yield: | 1.59%
|
| Spread: | Yen Swap Offer plus 145 bps
|
|
|
| 20-year bonds
|
| Amount: | ¥1.5 billion
|
| Maturity: | July 6, 2040
|
| Coupon: | 1.8%
|
| Price: | Par
|
| Yield: | 1.8%
|
|
|
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