By Rebecca Melvin
New York, Dec. 4 – The Republic of Indonesia has priced $3 billion of notes in three tranches due 2024, 2029 and 2049 (Baa2/BBB-/BBB), according to final term sheets filed with the Securities and Exchange Commission.
The $750 million issue of 4.45% bonds due 2024 priced at 99.852 to yield 4.48%, or 165.9 basis points over U.S. Treasuries.
The $1.25 billion issue of 4¾% bonds due 2029 priced at 99.748 to yield 4.78%, or a spread over U.S. Treasuries of 180.8 bps.
The $1 billion of 5.35% notes due 2049 priced at 99.539 to yield 5.38%, or a spread over U.S. Treasuries of 212.1 bps.
Joint lead managers and joint bookrunners of the SEC-registered deal were Australia and New Zealand Banking Group Ltd., Citigroup Global Markets Inc., DBS Bank Ltd., Deutsche Bank AG (billing and delivery) and Goldman Sachs (Singapore) Pte.
The bonds contain collective action clauses differing from debt issued prior to 2015 and allow modifications affecting reserve matters listed in the indenture, including modifications to payment.
Application is being made to list the securities on the Singapore Exchange Securities Ltd.
| Issuer: | Republic of Indonesia
|
| Issue: | Notes
|
| Amount: | $3 billion
|
| Bookrunners: | Australia and New Zealand Banking Group Ltd., Citigroup Global Markets Inc., DBS Bank Ltd., Deutsche Bank AG (billing and delivery) and Goldman Sachs (Singapore) Pte.
|
| Co-managers: | PT Bahana Sekurities, PT Danareksa Sekurities and PT Trimegah Sekuritas Indonesia Tbk.
|
| Pricing date: | Dec. 3
|
| Settlement date: | Dec. 11
|
| Distribution: | SEC registered
|
|
|
| 2024 bonds
|
| Amount: | $750 million
|
| Maturity: | Feb. 11, 2024
|
| Coupon: | 4.45%
|
| Price: | 99.852
|
| Yield: | 4.48%
|
| Spread: | Treasuries plus 165.9 bps
|
|
|
| 2029 bonds
|
| Amount: | $1.25 billion
|
| Maturity: | Feb. 11, 2029
|
| Coupon: | 4¾%
|
| Price: | 99.748
|
| Yield: | 4.78%
|
| Spread: | Treasuries plus 180.8 bps
|
|
|
| 2049 bonds
|
| Amount: | $1 billion
|
| Maturity: | Feb. 11, 2049
|
| Coupon: | 5.35%
|
| Price: | 99.539
|
| Yield: | 5.38%
|
| Spread: | Treasuries plus 212.1 bps
|
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