By Reshmi Basu
New York, March 2 - Indonesia (B2/B+) sold $2 billion of sovereign bonds in a dual tranche offering Thursday, which included $1 billion of notes due 2017 and $1 billion in a retap of bonds due 2035.
The 2017 bonds priced at 99.052 with a 6 7/8% coupon to yield 7%. The issue priced at the tighter end of price guidance, which was issued at 7% to 7 1/8%.
The reopened 2035 bonds priced at 113.454 to yield a spread of 263.8 basis points more than Treasuries.
Barclays Capital, JP Morgan and UBS Investment Bank were lead managers for the Rule 144A and Regulation S offering.
| Issuer: | Republic of Indonesia
|
| Issue: | Dual tranche offering of sovereign bonds
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| Total amount: | $2 billion
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| Pricing date: | March 2
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| Settlement date: | March 9
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| Lead managers: | Barclays Capital, JP Morgan, UBS Investment Bank
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| Ratings: | Moody's: B2
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| Standard & Poor's: B+
|
|
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| 2017 bonds
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| Amount: | $1 billion
|
| Maturity: | March 9, 2017
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| Coupon: | 6 7/8%
|
| Issue price: | 99.052
|
| Yield: | 7%
|
| Spread: | 235.1 basis points more than Treasuries
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|
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| Retap of 2035 bonds
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| Amount: | $1 billion
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| Maturity: | Oct. 12, 2035
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| Coupon: | 8½%
|
| Issue price: | 113.454
|
| Spread: | 263.8 basis points more than Treasuries
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