The Republic of Indonesia late last night priced a $2.5 billion 10-year bond at a yield of 5.1%, at the final guidance.
The coupon was fixed at 4.875%, the lowest coupon ever achieved by Indonesia for a 10-year dollar bond. The notes were reoffered at 98.254.
The leads had told investors that Indonesia would raise between $2 billion to $2.5 billion and it ended up achieving the high end of the targeted issue size. The deal is one of the largest single-tranche US dollar offerings by an Asian borrower.
Deutsche Bank, J.P. Morgan and UBS were joint bookrunners.