Indonesia raises US$3 billion in sale of dollar bonds

The rupiah and kiwi have struggled to gain traction in 2018. (Bloomberg pic)

JAKARTA: Indonesia has raised US$3 billion through the sale of US dollar-denominated bonds and will use the proceeds to fund the 2019 state budget, the finance ministry said in a statement on Tuesday.

The government sold US$750 million of 5 year tenor bonds with a coupon of 4.450% per annum, US$1.25 billion of bonds maturing in 10 years with 4.750% coupon, and US$1 billion of bonds with 30 year maturity with a 5.350% coupon, the ministry said.

Joint bookrunners of the issuance were ANZ, Citigroup, DBS Bank, Deutsche Bank and Goldman Sachs, while local securities Bahana Sekuritas, Danareksa Sekuritas and Trimegah Sekuritas acted as co-managers.

A ministry official said on Monday the government aims to sell bonds worth 120 trillion rupiah (US$8.41 billion) equivalent in foreign currencies to fund the 2019 budget.