Chicago, July 5 – Indonesia printed $3.25 billion of Islamic bonds (Baa2/BBB/BBB), according to multiple pricing supplements.
The notes were issued via Perusahaan Penerbit SBSN Indonesia III.
The republic sold $1.75 billion of 4.4% trust certificates with a five-year tenor at par. Talk was in the area of 4¾%. The spread was 164.4 basis points to the benchmark Treasury, according to a post-stabilization announcement on Tuesday.
Additionally, the offer included $1.5 billion of 4.7% trust certificates with a 10-year tenor. The offer also priced at par. Talk was in the area of 5.1%. The spread priced at 193.3 bps to Treasuries.
CIMB Investment Bank Bhd., Deutsche Bank AG, London Branch, Dubai Islamic Bank PJSC, HSBC Ltd. and Standard Chartered Bank are managers of the Rule 144A and Regulation S notes.
Proceeds are being used for general corporate purposes for the five-year trust certificates.
For the 10-year certificates, proceeds will be used to finance or refinance expenditures with a green and blue focus as defined in the SDGs government securities framework.
| Issuer: | Perusahaan Penerbit SBSN Indonesia III
|
| Obligor: | Indonesia
|
| Amount: | $3.25 billion
|
| Issue: | Trust certificates
|
| Bookrunners: | CIMB Investment Bank Bhd., Deutsche Bank AG, London Branch, Dubai Islamic Bank PJSC, HSBC Ltd. and Standard Chartered Bank
|
| Co-managers: | PT BRI Danareksa Sekuritas, PT Trimegah Sekuritas Indonesia Tbk
|
| Trade date: | May 24
|
| Settlement date: | June 6
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB
|
| Fitch: BBB
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Five-year sukuk
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| Amount: | $1.75 billion
|
| Maturity: | June 6, 2027
|
| Coupon: | 4.4%
|
| Price: | Par
|
| Yield: | 4.4%
|
| Spread: | Treasuries plus 164.4 bps
|
| Price talk: | 4¾% area
|
| ISIN: | US71567PAU49, US71567RAU05
|
|
|
| 10-year sukuk
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| Amount: | $1.5 billion
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| Maturity: | June 6, 2032
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| Coupon: | 4.7%
|
| Price: | Par
|
| Yield: | 4.7%
|
| Spread: | Treasuries plus 193.3 bps
|
| Price talk: | 5.1% area
|
| ISIN: | US71567PAV22, US71567RAV87
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