Indonesia issues its biggest ever US dollar bond

Investors respond well to the reopening of three existing senior-debt tranches as the sovereign tries to rein in its fiscal deficit.

The Republic of Indonesia raised a record $2.2 billion from a debt sale yesterday when it reopened three existing tranches of senior fixed-rate bonds. It was the second global offering by Indonesia this year, after it raised $2 billion in the second week of January.

Yet, the order book was more than three times subscribed which allowed the Republic to raise the transaction size from $1.5 billion and tighten final pricing inside initial guidance. ôDemand reflected the marketÆs confidence in...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Print Edition

FinanceAsia Print Edition