JAKARTA -- Indonesia on Thursday announced details of plans to issue a total of 177 billion yen ($1.62 billion) in yen-denominated bonds, one of the largest public offerings of samurai bonds in Asia.
The total figure would surpass the 154.2 billion yen issuance of samurai bonds by the Philippines last year.
The debt instruments will have maturities of three, five, seven, 10, 15 and 20 years. Five-year bonds, which will account for slightly more than 40% of the total issuance amount, will carry a coupon rate of 0.83% annually. The coupon rates will be 1.55% and 1.79% for the 15- and 20-year bonds.
SMBC Nikko Securities, Nomura Securities, Mizuho Securities and Daiwa Securities will lead-manage the issuance, slated for this coming Wednesday.
Moody's Investors Service, S&P Global and Fitch Ratings had upgraded Indonesian sovereign debt to BBB-, which is investment-grade, by May 2017. Moody's and Fitch have since raised their ratings a notch.