Indonesia ditches long bond dream but 10yr proves a hit
The Republic of Indonesia raised $2bn in the global bond market this week, overcoming muddled marketing and the cancellation of a longer-dated tranche to launch a tightly-priced 10 year deal that performed well.
Bookrunners Barclays Capital, Citi and Credit Suisse launched the new issue on Tuesday after drawing orders worth $4.5bn despite the sovereigns aggressive pricing. The $2bn 2020 bond priced to yield 6%, which bankers close to the deal said was slightly inside its existing curve.
The order book was markedly
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