Indonesia prices long bond tightly, but slips in trading

Indonesia raises 30-year money and Philippine port operator ICTSI reopens its hybrid issue, but both deals trade below their issue price in the secondary market.

Indonesia prices long bond tightly, but slips in trading
Indonesia is the second sovereign after the Philippines to tap the dollar market in 2012 (AFP)

The Republic of Indonesia became the second sovereign to tap the dollar bond market in 2012 when it priced a $1.75 billion 30-year global early Tuesday morning. It is the biggest long-dated bond from an Asian borrower this year and carries the lowest yield for a new 30-year bond from the region.

The coupon for the bonds was fixed at 5.25% and the notes were reoffered at 98 to yield 5.375%, at the tight end...

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