Republic of Indonesia USD sukuk at 4.625% area

Mon Sep 1, 2014 10:45pm EDT

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SINGAPORE, Sep 2 (IFR) - The Republic of Indonesia has released price guidance for a US dollar 144A/Reg S 10-year sukuk following a global roadshow that ended last week.

Initial guidance is for a yield in the area of 4.625%.

The lead managers are comparing the new offering to the sovereign's own sukuk due November 2022. That security is quoted at a yield of 4.076% in secondary trading. The sovereign's conventional bonds due April 2022 and January 2024 were indicated at yields of 3.921% and 4.076%, respectively, in secondary trading.

Indonesia is rated Baa3 by Moody's, BB+ by S&P and BBB- by Fitch.

The proposed notes are expected to have similar ratings from the three agencies. Pricing could take place during US hours today.

The lead managers are CIMB, Emirates NBD, HSBC and Standard Chartered. (Reporting by Lianting Tu. Editing by Abby Schultz)

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