The Republic of Indonesia has revealed plans to launch a benchmark-size 10-year dollar bond, after originally mandating the lead banks back in February.
According to one person familiar with the borrower, Indonesia wanted to complete its credit updates and was in no rush to launch the deal, preferring instead to wait for the right window to tap the market.
The deal should raise $1 billion to $2 billion, which is the typical benchmark size for sovereign borrowers.
The price whisper for the 10-year bonds started in the area of low 5% and the guidance was in the 5.125% area. The deal is expected to...