By Cady Vishniac
Detroit, Jan. 6 – The Republic of Indonesia on Tuesday priced four tranches of euro- and dollar-denominated notes (Baa2/BBB/BBB), according to FWP filings with the Securities and Exchange Commission.
The notes are:
• €1 billion of 1.1% bonds due March 12, 2033 priced at 99.165 to yield 1.174%, or 135 basis points over mid-swaps;
• $1.25 billion of 1.85% bonds due March 12, 2031 priced at 99.538 to yield 1.9%, or 95.3 bps over Treasuries;
• $1.25 billion of 3.05% bonds due March 12, 2051 at 99.02 to yield 3.1%, or 139.9 bps over Treasuries; and
• $500 million of 3.35% bonds due March 21, 2071 at 98.794 to yield 3.4%, or 169.9 bps over Treasuries.
Bookrunners on the deal were Citigroup Global Markets Inc., DBS Bank Ltd., Deutsche Bank AG, Singapore Branch, Mandiri Securities Pte. Ltd. and Standard Chartered Bank.
As previously reported, the country intends to use the proceeds of the bonds for general purposes and to fund recovery from the Covid-19 pandemic.
Approval in principal has been obtained to list the bonds on the Singapore Exchange Securities Trading Ltd. and the open market of the Frankfurt Stock Exchange.
| Issuer: | Republic of Indonesia
|
| Issue: | Bonds
|
| Amount: | $3 billion and €1 billion
|
| Bookrunners: | Citigroup Global Markets Inc., DBS Bank Ltd., Deutsche Bank AG, Singapore Branch, Mandiri Securities Pte. Ltd. and Standard Chartered Bank
|
| Co-managers: | PT BRI Danareksa Sekuritas and PT Trimegah Sekuritas Indonesia Tbk.
|
| Pricing date: | Jan. 5
|
| Settlement date: | Jan. 12
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB
|
| Fitch: BBB
|
|
|
| 2031 bonds
|
| Amount: | $1.25 billion
|
| Maturity: | March 12, 2031
|
| Coupon: | 1.85%
|
| Price: | 99.538
|
| Yield: | 1.9%
|
| Spread: | 95.3 bps over Treasuries
|
|
|
| 2033 bonds
|
| Amount: | €1 billion
|
| Maturity: | March 12, 2033
|
| Coupon: | 1.1%
|
| Price: | 99.165
|
| Yield: | 1.174%
|
| Spread: | 135 bps over interpolated mid-swap rate
|
|
|
| 2051 bonds
|
| Amount: | $1.25 billion
|
| Maturity: | March 12, 2051
|
| Coupon: | 3.05%
|
| Price: | 99.02
|
| Yield: | 3.1%
|
| Spread: | 139.9 bps over Treasuries
|
|
|
| 2071 bonds
|
| Amount: | $500 million
|
| Maturity: | March 12, 2071
|
| Coupon: | 3.35%
|
| Price: | 98.794
|
| Yield: | 3.4%
|
| Spread: | 169.9 bps over Treasuries
|
|
|
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