Indonesia diversifies with debut €1bn bond

The Southeast Asian sovereign attains a record-breaking order book with its first euro bond in an effort to diversify funding and establish a benchmark.

The Republic of Indonesia launched a 1 billion $1.37 billion seven-year bond on Wednesday, the country’s first in the euro space, achieving an order book that far exceeded expectations.

The sovereign received 6.7 billion of orders from more than  400 accounts or an oversubscription multiple of 6.7 times the largest ever in its overall bond history, according to a source close to the transaction. The previous biggest oversubscription multiple was 6.5 times for Indonesia’s 2011 4% Islamic bond or sukuk.

“ROI chose to issue in euros to diversify its investor base, and also to increase pricing references for both the Indonesian sovereign and Indonesian corporates in...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222