Chicago, March 23 – Republic of Indonesia sold $1.75 billion of bonds in two parts (Baa2/BBB/BBB) on Tuesday, according to FWP and 452B5 filings with the Securities and Exchange Commission.
The republic priced $1 billion of 3.55% notes due 2032 at 99.583 to yield 3.6%. The spread priced as 121.9 basis points over the benchmark Treasury.
Also, the offer included $750 million of 4.3% bonds due 2052, priced at 99.167 to yield 4.35%. The spread priced out at 172.9 bps over the relevant benchmark Treasury.
There are optional par calls in place three months before the maturity date for the 2032 bonds and six months before the maturity date for the 2052 bonds.
Citigroup Global Markets Inc., Deutsche Bank AG Singapore Branch, Mandiri Securities Pte. Ltd., Societe Generale CIB and Standard Chartered Bank are the joint lead managers and joint bookrunners.
Applications are being made to list the bonds on the official list of the Singapore Exchange and the open market of the Frankfurt Stock Exchange.
Proceeds are earmarked to repurchase certain outstanding global bonds under a concurrent tender offer, and any remaining proceeds will be used for the general purposes of the republic.
| Issuer: | Republic of Indonesia
|
| Amount: | $1.75 billion
|
| Issue: | Bonds
|
| Bookrunners: | Citigroup Global Markets Inc., Deutsche Bank AG Singapore Branch, Mandiri Securities Pte. Ltd., Societe Generale CIB and Standard Chartered Bank
|
| Co-managers: | PT BRI Danareksa Sekuritas and PT Trimegah Sekuritas Indonesia Tbk.
|
| Trustee: | Bank of New York Mellon
|
| Counsel to issuer: | Assegaf Hamzah & Partners (Indonesia) and Clifford Chance Pte. Ltd. (United States)
|
| Counsel to bookrunners: | Mayer Brown (United States) and Hiswara Bunjamin & Tandjung (Indonesia)
|
| Trade date: | March 22
|
| Settlement date: | March 31
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB
|
| Fitch: BBB
|
| Distribution: | SEC registered
|
|
|
| 2032 bonds
|
| Amount: | $1 billion
|
| Maturity: | March 31, 2032
|
| Coupon: | 3.55%
|
| Price: | 99.583
|
| Yield: | 3.6%
|
| Spread: | Treasuries plus 121.9 bps
|
| Cusip: | 455780DJ2
|
|
|
| 2052 bonds
|
| Amount: | $750 million
|
| Maturity: | March 31, 2052
|
| Coupon: | 4.3%
|
| Price: | 99.167
|
| Yield: | 4.35%
|
| Spread: | Treasuries plus 172.9 bps
|
| Cusip: | 455780DK9
|
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