Government Measures to Mitigate Covid-19 Risk
Republic of Indonesia - Dual Currency US$3bio and EUR1bio
Issuer
Issuer Rating
Exp. Issue Rating
Format
Issue
Pricing Date
Settlement Date
Republic of Indonesia
Baa2 Moody's (Stable)
BBB S&P (Neg)
BBB Fitch (Stable)
Baa2 Moody's BBB S&P / BBB Fitch
SEC Registered
Senior unsecured fixed rate notes off US SEC Shelf
January 5, 2021
Currency
Size
US$1.25bio
Tenor
Long 10-year
Maturity
March 12, 2031
Coupon (p.a.)
Yield
1.850%
1.900%
Price
99.538%
Listing
January 12, 2021
USD
US$1.25bio
US$0.5bio
Long 30-year
Long 50-year
PB/Others,
CB/SWF
5%
3%
Banks, 8%
Investor Breakdown by Investor Type
Insurance /
PF, 9%
RIEUR033
CB/SWF PB/Others,
3%
1%
Banks, 8%
Insurance/
PF, 20%
RI0351
AM/FM, 75%
PB/Others,
1%
CB/SWF
8%
Banks, 26%
RI0331
Euro
€1bio
AM/FM, 63%
Insurance
PF, 2%
Long 12-year
March 12, 2051 March 12, 2071 March 12, 2033
3.050%
3.350%
1.100%
3.100%
99.020%
3.400%
98.794%
1.174
99.165%
Singapore, Frankfurt Stock Exchange
Use of Proceeds The net proceeds are for general purposes of the Republic of Indonesia,
including its Covid-19 relief efforts
Transaction Highlights
• The lowest yields and coupons throughout the issuance of Indonesian Global
Bonds for all tenors and currencies
•
All tranches priced inside of the Republic's existing credit curve with negative new
issue premium and at the tightest levels for every one of the tranches
• The transaction was well-executed and competitively priced, with final pricing
across all tranches pricing 45bps inside of initial price guidance for USD and
40bps inside of initial price guidance for EUR
Source: Ministry of Finance
AM/FM, 68%
Banks, 1%
PB/Others,
1%
CB/SWF
6%
Insurance
PF, 24%
RI0371
Investor Breakdown by Geography
US, 20%
RIEUR0333
APAC, 9%
EMEA, 71%
EMEA, 30%
US, 27%
RI0351
US, 20%
EMEA, 22%
APAC, 43%
EMEA, 31%
RI0331
APAC, 58%
AM/FM, 68%
RI0371
US, 37%
APAC, 32%
=4
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