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Indonesia to sell four tranches of dollar-, euro-denominated bonds
By Rebecca Melvin
Concord, N.H., July 21 – Republic of Indonesia plans to price new euro-denominated and U.S. dollar-denominated note tranches and dollar add-on tranches to its 3.05% bonds due 2051 and 3.35% bonds due 2071, according to a 424B3 filing with the Securities and Exchange Commission and a market source.
The sovereign’s new euro tranche is a €500 million eight-year senior unsecured bond (expected rating: BBB) for which the yield was set at mid-swaps plus 122 basis points early Wednesday.
The 2051 bonds will be a further issuance of, and will form a single series with, the sovereign’s existing $1.25 billion of 3.05% bonds (ISIN: US455780CW44) issued on Jan. 12, 2021.
The 2071 bonds will be a further issuance of, and will form a single series with, an existing $500 million of 3.35% bonds due 2071 (ISIN: US455780CX27) issued on Jan. 12, 2021.
BNP Paribas, BofA Securities, Credit Agricole CIB Singapore Branch, Deutsche Bank AG Singapore Branch and HSBC Corp. Ltd. are joint lead managers and joint bookrunners of the new issuance. PT BRI Danareksa Sekuritas and PT Trimegah Sekuritas Indonesia Tbk. are co-managers.
The proceeds of the bonds will be used for general purposes, including Covid-19 relief.
Citigroup, DBS Bank Ltd., Deutsche Bank, Mandiri Securities and Standard Chartered Bank are the joint lead managers and joint bookrunners of the Regulation S offering. Co-managers are PT BRI Danareksa Sekuritas and PT Trimegah Sekuritas Indonesia Tbk.
Application has been made to list the bonds on the Singapore Exchange Securities Trading Ltd. and the open market of the Frankfurt Stock Exchange.
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