Indonesia expected to bring $1 billion with 10-year or greater maturity after Lunar New Year

By Paul A. Harris

St. Louis, Jan. 13 - The Republic of Indonesia (B2/B+) is expected to come to the international market with a global bond offering of at least $1 billion, with a maturity of 10 years or greater, according to a market source.

The deal is expected to launch shortly after the Chinese Lunar New Year, which takes place Jan. 29.

The selection of underwriters is expected to conclude shortly, according to the source, who added that the short list includes Barclays Capital, JP Morgan, Morgan Stanley and UBS.

Indonesia last came to the global bond market on Oct. 5 pricing $1.5 billion of bonds in two tranches: $900 million of 7½% bonds due January 2016 and $600 million of 8½% bonds due October 2035.

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