New Issue: Indonesia prices €1 billion 2.15%, seven-year senior notes at mid-swaps plus 158 bps

By Rebecca Melvin

New York, July 11 – The Republic of Indonesia priced €1 billion of 2.15% seven-year senior notes on Tuesday at 99.82 to yield 2.178%, or mid-swaps plus 158 basis points, according to a syndicate source.

Pricing came tighter than talk for a spread of mid-swaps plus 160 bps to 170 bps, and that was tightened from initial talk in the mid-swaps plus 185 bps area. Order books were in excess of €4 billion, according to an update during marketing.

The Rule 144A and Regulation S notes (expected ratings Baa3//BBB-) mature July 18, 2024 and were sold via joint bookrunners BNP Paribas, Citigroup, Deutsche Bank and Goldman Sachs (Singapore) Pte.

Issuer:	Indonesia
Amount:	€1 billion
Description:	Senior notes
Maturity:	July 18, 2024
Bookrunners:	BNP Paribas, Citigroup, Deutsche Bank, Goldman Sachs (Singapore) Pte.
Co-managers:	PT Bahana Sekuritas, PT Danareksa Sekuritas, PT Mandiri Sekuritas and PT Trimegah Sekuritas Indonesia Tbk.
Coupon:	2.15%
Price:	99.82
Yield:	2.178%
Spread:	Mid-swaps plus 158 bps
Pricing date:	July 11
Settlement date:	July 18
Ratings:	Moody’s: Baa3
	Fitch: BBB-
Distribution:	Rule 144A and Regulation S
Price talk:	Mid-swaps plus 160 bps to 170 bps, tightened from mid-swaps plus 185 bps area

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