The Republic of Indonesia returned to the euro-denominated bond markets for a second outing on Thursday with a 1.25 billion bond deal.
The new transaction follows a debut 1 billion debut offering almost one year ago.
However, in a sign of how subdued markets have become over the past few months the new 10-year issue attracted an order book of 2.4 billion compared to 6.7 billion this time last year.
After setting out with initial guidance around 260bp over mid-swaps the leads were able to bring pricing in by 10bp. A new 2025 deal was priced at 98.507 on a coupon of 3.375% to...