Indonesia Sells $3 Billion Debt at Lowest Rate in 2013 Debut

Indonesia sold $3 billion of 10- and 30-year dollar bonds at record low borrowing costs, tapping the global market for the first time this year, according to the finance ministry.

The nation issued $1.5 billion of notes due April 2023 to yield 3.50 percent, its cheapest-ever financing for non-Islamic bonds denominated in the U.S. currency, Robert Pakpahan, director general at the debt management office, said in an interview. Indonesia also sold $1.5 billion of debt maturing in 2043 at 4.75 percent, he said. The 10-year securities yielded an extra 1.75 percentage points over similar-maturity Treasuries, while the 30-year spread was 1.83 percentage points.