Indonesia mandates three for sovereign bond

Indonesia picks Credit Suisse, Deutsche Bank and Lehman Brothers to manage its $1.5 billion bond transaction. Meanwhile, PT Truba and Korea Rail release guidance on their deals.

The Republic of Indonesia has mandated Credit Suisse, Deutsche Bank and Lehman Brothers for a bond transaction that is reported to be as large as $1.5 billion. The leads were selected from a shortlist of five banks that also included Barclays Capital and UBS.

The funds will be used to cover the sovereign's budget deficit.

In January, Indonesia priced a $2 billion deal via Barclays, HSBC and Lehman Brothers. While HSBC and Barclays were rotated out, market observers werenÆt...

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