By Reshmi Basu
New York, Feb. 7 - The Republic of Indonesia sold a $1.5 billion offering of 30-year benchmark bonds (B1/BB-/BB-) at 98.40 to yield 6¾%, according to a market source.
The deal came in line with price guidance for a yield in the area of 6¾%, lowered from the previous 6 7/8%.
Citigroup, Deutsche Bank and UBS managed the Rule 144A and Regulation S transaction.
This is the first time Indonesia has tapped the market since last spring. On March 2, 2006 the country sold $2 billion of sovereign bonds in a dual-tranche offering, which included $1 billion of notes due 2017 and $1 billion in a retap of bonds due 2035.
Issuer: Republic of Indonesia
Amount: $1.5 billion
Issue: Global bonds
Maturity: Feb. 17, 2037
Coupon: 6 5/8%
Issue price: 98.40
Yield: 6¾%
Spread: Treasuries plus 189.3 basis points
Pricing date: Feb. 7
Settlement date: Feb. 14
Lead managers: Citigroup, Deutsche Bank, UBS
Distribution: Rule 144A/Regulation S
Ratings: Moody's: B1
| Standard & Poor's: BB-
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| Fitch: BB-
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| Revised price guidance: | 6 7/8% area
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