Indonesia plans dollar, euro notes; euro 12-year notes talked at mid-swaps plus 135-140 bps

By Rebecca Melvin

New York, Oct. 23 – Indonesia was pricing a benchmark offering of dollar- and euro-denominated notes, according to a 424B3 filing with the Securities and Exchange Commission and a market source.

The euro-denominated 12-year notes (expected ratings: Baa2/BBB/BBB) are being talked to yield mid-swaps plus 135 basis points to 140 bps, according to a syndicate source.

Pricing was tightened from initial talk at mid-swaps plus 160 bps.

The SEC-registered notes are being marketed by joint bookrunners BNP Paribas, Citigroup Global Markets Inc., Goldman Sachs (Singapore) Pte., Mandiri Securities Pte. Ltd. and Standard Chartered Bank, with co-managers PT Danareksa Sekuritas and PT Trimegah Sekuritas Indonesia.

Details of the dollar-denominated notes were not immediately available.

The republic plans to use proceeds from the bonds for general purposes, including partially funding its general financing requirements.

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