By Rebecca Melvin
New York, Jan. 8 – Indonesia priced $2 billion of bonds in two tranches and €1 billion of bonds due 2027, all of which are deals registered with the Securities and Exchange Commission (expected ratings: Baa2/BBB/BBB), according to filed term sheets.
The $1.2 billion 2.85% bonds due 2030 priced at 99.737 for a yield of 2.88%, or a spread over U.S. Treasuries of 105.2 bps. That pricing was tight compared to initial talk for a yield in the 3 1/8% area.
The $800 million 3½% notes due 2050 priced at 99.077 for a reoffered yield of 3.55%, or a spread over Treasuries of 123.9 bps. That compared to talk for a yield in the area of 3¾%.
The €1 billion of 0.9% notes due Feb. 14, 2027 priced at 99.638 for a yield to maturity of 0.953%, or a spread over mid-swaps of 103 bps. The spread was tightened from initial talk for spread in the mid-swaps plus 130 bps area.
The three deals were marketed and priced via joint bookrunners Citigroup (billing and delivery), Deutsche Bank, Goldman Sachs, Mandiri Securities and Societe Generale.
PT Danareksa Sekurities and PT Trimegah Sekuritas Indonesia Tbk. were co-managers.
| Issuer: | Indonesia
|
| Description: | Bonds
|
| Amount: | $2 billion of 2030, 2050 bonds, €1 billion of 2027 bonds
|
| Bookrunners: | Citigroup (billing and delivery), Deutsche Bank, Goldman Sachs, Mandiri Securities and Societe Generale
|
| Co-managers: | PT Danareksa Sekurities and PT Trimegah Sekuritas Indonesia Tbk.
|
| Pricing date: | Jan. 7
|
| Settlement date: | Jan. 14
|
| Expected ratings: | Moody’s: Baa2
|
| S&P: BBB
|
| Fitch: BBB
|
| Distribution: | SEC registered
|
|
|
| 2027 bonds
|
| Amount: | €1 billion
|
| Maturity: | Feb. 14, 2027
|
| Coupon: | 0.9%
|
| Price: | 99.638
|
| Yield: | 0.953%
|
| Spread: | 103 bps over mid-swaps
|
| Price talk: | Tightened to 103 bps from initial talk of 130 bps over mid-swaps
|
|
|
| 2030 bonds
|
| Amount: | $1.2 billion
|
| Maturity: | Feb. 14, 2030
|
| Coupon: | 2.85%
|
| Price: | 99.737
|
| Yield: | 2.88%
|
| Spread: | 105.2 bps over Treasuries
|
| Price talk: | Initial price talk in 3 1/8% area
|
|
|
| 2050 bonds
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| Amount: | $800 million
|
| Maturity: | Feb. 14, 2050
|
| Coupon: | 3½%
|
| Price: | 99.077
|
| Yield: | 3.55%
|
| Spread: | Mid-swaps plus 123.9 bps
|
| Price talk: | Initial price talk in 3¾% area
|
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