Indonesia pulls back from pricing $1 billion sovereign deal

By Paul A. Harris

St. Louis, March 23 - An extensive sell-off in emerging markets fixed-income securities over the past week prompted Indonesia to temporarily postpone its anticipated $1 billion global bond offering on Wednesday, according to a market source.

The notes, which were expected to have a maturity in the 10-year to 15-year range, were talked Tuesday at U.S. Treasuries plus 180 to 190 basis points.

Terms were expected as early as Wednesday.

Deutsche Bank Securities, UBS Investment Bank and Citigroup are bookrunners. Credit Suisse First Boston and JP Morgan are co-managers.

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