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Indonesia Raises $2.65 Billion Amid Bullish Market Streak

  • 5 and 10-year tenors price in line with curve: Bloomberg data
  • Indonesia stocks defied global selloff, bond spreads narrowed
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Indonesia raised $2.65 billion from the sale of dollar bonds, with its newfangled popularity among investors helping it offset the global rise in borrowing costs. 

The new offering’s five-year tranche priced to yield 4.4%, matching the five-year extrapolated yield for the sovereign’s existing dollar notes, according to data analyzed by Bloomberg. The 10-year maturity also fell in line with the market.