Indonesia offers euro seven-year notes at mid-swaps plus 165 bps area; pricing expected Tuesday

By Rebecca Melvin

New York, July 11 – The Republic of Indonesia plans to price a euro-denominated offering of seven-year benchmark notes that was talked in the mid-swaps plus 165 basis points area on Tuesday, according to a syndicate source.

Price talk was tightened from the 185 bps area for the Rule 144A and Regulation S offering (expected ratings Baa3//BBB-).

The deal was being sold via joint bookrunners BNP Paribas, Citigroup, Deutsche Bank, Goldman Sachs (Singapore) Pte., with co-managers PT Bahana Sekuritas, PT Danareksa Sekuritas, PT Mandiri Sekuritas and PT Trimegah Sekuritas Indonesia Tbk.

Order books were in excess of €4 billion, and pricing was expected later Tuesday.

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