Investor Presentaiton
Republic of Indonesia - Samurai Bond JPY100bn
Issuer
Issuer Rating
Exp. Issue Rating
Format
Pricing Date
Settlement Date
Deal Size
Republic of Indonesia
Baa2 Moody's (Stable)
BBB S&P (Neg)
BBB Fitch (Stable)
Baa2 Moody's / BBB S&P / BBB Fitch
Samurai Bond (Public Offering)
May 21, 2021
Investor Breakdown by Investor Type
Others,
19.6%
May 27, 2021
Shinking
JPY100bn
banks/
JPY29.0bn
3-year
Size
Tenor
Maturity
Coupon
Re-offer Spread over
0.33%
YMS+35
0.57%
YMS+56
Yen Mid Swap (YMS)
Joint Lead Managers
Daiwa/Mizuho/Nomura/SMBC
JPY46.8bn
JPY1.2bn
JPY18.2bn
Regional
5-year
7-year
May 27, 2024 May 27, 2026 May 26, 2028
10-year
May 27, 2031
banks,
Public Funds,
8.9%
0.2%
0.70%
0.89%
Central
Central
YMS+65
YMS+76
Banks, 4.0% Cooperative
City Banks,
22.2%
s, 7.0%
Asset
Managers,
31.1%
Insurers,
7.0%
Transaction Highlights
•
.
Rol's seventh consecutive year accessing this market with JPY 100 billion or larger sized benchmark transactions since 2015.
This benchmark sized transaction has been achieved with the lowest JPY spreads and coupon levels in comparison with Rol's past Samurai deals, maintaining a fairly low
premium over its USD secondary curves
• The lowest coupon in the history of the issuance of Samurai Bonds for a tenor of 10 years, amounting to 0.89%. This coupon is even lower when compared to the
issuance of 10-year Samurai Bonds with JBIC guarantee in 2015 which was at the level of 0.91%.
• Rol successfully issued mid to long tenured tranches (5-year and above) for more than 70% of the total issuance with the lowest ever dependency on 3-year tenor. This
significant demand shift from 3-year tranche to longer tenors reflected investors' confidence on Rol's fundamentals.
Source: Ministry of Finance
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