After delaying pricing for one day because of the London bombings, PT Bank Niaga and Chinese Overseas Land COLI, completed eurobonds on Friday July 8.
Citigroup and Commerce International Merchant Bank priced a $100 million 10-year non-call five-year subordinated bond for the Indonesia bank through initial price guidance. The B2B Fitch rated bonds were initially marketed at were at 8% to 8.25% before being tightened to the 8% area during the early days of roadshows.
Final pricing came at 99.188, on a semi-annual coupon of 7.75% to yield at 7.95%. This equates to 412.5bp over five-year US Treasuries. Fees are 40bp.
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