April 16 (Bloomberg) -- Indonesiaâs first-ever international sale of Islamic dollar bonds has drawn orders for more than six times the $650 million of debt on offer, prompting the arrangers to offer less attractive terms to investors. The five-year notes attracted bids exceeding $4 billion, according to two people familiar with the deal. The securities will be priced today in New York to yield 8.8 percent to 9 percent, less than initial guidance of 9.25 percent, they said, asking not to be identified. Early poll results suggesting president Susilo Bambang Yudhoyono will be re-elected are boosting confidence in Indonesian assets. Five-year dollar bonds the government sold on Feb. 26 yielded 7.91 percent recently, 6.2 percentage points more than similar-maturity U.S. Treasuries, based on prices from Royal Bank of Scotland Group plc. They originally yielded 10.5 percent, 8.5 points more than U.S. government debt.
Sukuk.net Wire External Story - Read full article here
Sukuk.net is not responsible for the content of external internet sites
|
