By Christine Van Dusen
Atlanta, June 15 – Indonesia priced a €3 billion two-tranche issue of notes due in 2023 and 2028, according to an announcement from the sovereign.
The €1.5 billion of 2 5/8% notes due 2023 priced at 99.076 to yield 2.772%, or mid-swaps plus 260 basis points.
The notes came tighter than talk for a spread in the 280 bps area.
The €1.5 billion of 3¾% notes due 2028 priced at 98.528 to yield 3.906%, or mid-swaps plus 325 bps.
The twelve-year notes also came tighter than talk, in this case for a spread in the 345 bps area.
Barclays, Deutsche Bank and JPMorgan were the joint bookrunners.
The proceeds will be used for general budgetary purposes.
Indonesia said it received €8.36 billion of orders for the notes.
| Issuer: | Indonesia
|
| Amount: | €3 billion
|
| Description: | Senior notes
|
| Bookrunners: | Barclays, Deutsche Bank, JPMorgan
|
| Co-managers: | Bahana Securities, Danareksa Sekuritas, Mandiri Sekuritas, Trimegah Securities
|
| Ratings: | Moody’s: Baa3
|
| S&P: BB+
|
| Fitch: BBB-
|
| Settlement date: | June 14
|
|
|
| Seven-year notes
|
| Amount: | €1.5 billion
|
| Maturity: | 2023
|
| Coupon: | 2 5/8%
|
| Price: | 99.076
|
| Yield: | 2.772%
|
| Spread: | Mid-swaps plus 260 bps
|
| Price talk: | Mid-swaps plus 280 bps area
|
|
|
| Twelve-year notes
|
| Amount: | €1.5 billion
|
| Maturity: | 2028
|
| Coupon: | 3¾%
|
| Price: | 98.528
|
| Yield: | 3.906%
|
| Spread: | Mid-swaps plus 325 bps
|
| Price talk: | Mid-swaps plus 345 bps area
|
|
|
|
|
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