The Republic of Indonesia has raised $2.5 billion in a sale of dollar-denominated bonds, Bloomberg reports. The country intends to use the proceeds to cover a budget deficit that is likely to reach 1.8% of gross domestic product in 2011, adds The Wall Street Journal. Deutsche Bank, JP Morgan and UBS served as the joint bookrunners for the transaction. The notes carry a coupon rate of 4.875% and are scheduled to mature in 2021.
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