Indonesia's government successfully raised $2 billion and €1.4 billion in a dual-currency global bond sale. The strong demand allowed them to secure competitive pricing.
JAKARTA – Indonesia 's government raised $2 billion and 1.4 billion euros ($1.44 billion) from a dual-currency global bonds sale, the finance ministry said on Thursday.It sold $900 million worth of five-year US dollar-denominated bonds with a 5.300-percent yield, and $1.1 billion of 10-year bonds with a 5.650-percent yield, it said in a statement.It also sold 700 million euros of eight-year bonds with a 3.917-percent yield and 700 million euros of 12-year bonds with 4.251-percent yield.
The ministry said the decision to enter the bond market early in the year has considered 'dynamic market conditions and future prospects that are expected to become more challenging.'The sale attracted a total orderbook of $6.1 billion and 2.5 billion euros, which the ministry described as solid, allowing it to get competitive pricing for the transaction.Indonesia's government regularly sells bonds in US dollar, euro and Japanese yen to help fund its annual budget deficit.Earlier this week, it maintained its outlook for this year's fiscal gap at 2.53 percent of gross domestic product (GDP). Last year, its budget had a deficit of 2.29 percent of its GDP, smaller than previously expected
Indonesia Bonds Finance Global Market Budget Deficit
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