"The total orders for the bonds are US$6.9 billion."
Jakarta (ANTARA News) - The government sold on Wednesday dollar-denominated bonds of US$2.5 billion to meet part of its financing target in the 2011 state budget.

The bonds series RI0521 (INDO21-GMTN) were part of Indonesia`s global medium-term notes updated on April 21, 2011, Head of the Public Relations Bureau at the Finance Ministry Yudi Pramadi said in a statement on Thursday.

"The total orders for the bonds are US$6.9 billion," he said.

The 10-year bonds due on May 5, 2021 will be issued at a coupon of 4.875 percent and a yield rate of 5.100 percent on May 5.

Yudi said the bonds were 2.76 times oversubscribed.

Based on the types of investors, 70 percent of the orders for the bonds comes from asset managers, 24 percent from state banks, 3 percent from pension funds and insurance companies, and 3 percent from private banks.

"The Indonesian government has successfully distributed the global holdings of the bonds," he said.

The bonds are 29 percent held by Asian investors, 22 percent by European investors and 49 percent by the US investors.

The bonds have received Ba1 rating from Moody`s, BB+ from Standard & Poors, and BB+ from Fitch.

The joint lead managers and joint bookrunners in the transaction are Deutsche Bank, JP Morgan Chase, and UBS Investment Bank, with PT Danareksa Sekuritas and PT Mandiri Sekuritas acting as co-managers.

Editor: Priyambodo RH
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