Indonesia's dollar benchmark to include tap of 8½% due 2035 in addition to new 2017 tranche

By Paul A. Harris

St. Louis, March 1 - Indonesia's dollar-denominated benchmark sovereign bond offering (B2/B+) will include a tap of its 8½% bonds due October 2035 in addition to a previously announced new 2017 tranche, according to an informed source.

Tranche sizes remain to be determined.

Barclays Capital, JP Morgan and UBS Investment Bank are leading the Rule 144A and Regulation S offerings. Pricing is expected on Thursday.

The 2017 tranche is talked at 7% to 7 1/8%.

Meanwhile the tap of the October 2035 notes is talked at 7 3/8% to 7½%.

Indonesia also priced a $600 million issue of its 8½% bonds maturing in Oct. 12, 2035 at 98.666 to yield 8 5/8% in early October 2005.

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