Indonesia sets guidance for $1.25 billion two-tranche offering of sovereign bonds

By Reshmi Basu

New York, Oct. 4 - The Republic of Indonesia set initial price guidance for a $1.25 billion offering of 10- and 30-year sovereign bonds (B2/B+/BB-), according to a market source.

Indonesia plans to sell a minimum of $750 million in 10-year bonds and a minimum of $250 million in 30-year bonds.

Guidance for the bonds due January 2016 is set at 7 5/8% to 7¾%, while the bonds due October 2035 are talked to yield 8 5/8% to 8¾%.

Citigroup, Credit Suisse First Boston and Merrill Lynch are running the Rule 144A/Regulation S transaction.

Pricing is expected on Wednesday or Thursday.

Proceeds will be used to help plug the budget deficit.

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