The issuance of the bonds in dual currencies is the second of its kind since 2017, the Directorate General of Financing and Risk Management at the Finance Ministry stated in a press statement released on Wednesday.
The 10-year dollar-denominated bonds series RI0423 due on April 24, 2028, were issued at a coupon of 4.1 percent.
The issuance of the bonds series RI0428 has demonstrated the government`s strong commitment to improve the liquidity of dollar-denominated bonds that can be traded to US investors.
The seven-year euro-denominated bonds series RIEUR0425 due on April 24, 2025, were issued at a coupon of 1.75 percent.
The bonds series RIEUR0425 have the lowest coupon among euro-denominated bonds that the government has ever issued. The bonds series RIEUR0425 are the fifth foreign currency-denominated bonds and the first euro-denominated bonds issued by the government using SEC-registered format.
The bonds in double currencies have received a Baa2 rating from Moody`s, a BBB rating from Standard & Poor`s, and a BBB rating from Fitch.
The issuance of the bonds came as a response to a positive momentum after Moody`s upgraded Indonesia`s sovereign rating on April 13, 2018, and the macro-economic condition showed signs of improvement.
The bonds will be listed at Singapore Stock Exchange and Frankfurt Stock Exchange.
Acting as joint lead managers and joint book runners are Credit Agricole Corporate and Investment Bank, Deutsche Bank Securities Inc., Goldman Sachs (Singapore) Pte, The Hong Kong and Shanghai Banking Corporation Limited, and Mandiri Securities Pte Ltd., with PT. Bahana Sekuritas, PT. Danareksa Sekuritas, and PT. Trimegah Sekuritas Indonesia Tbk being the co-managers.
Reported by Satyagraha