The proposed offering is expected to come with a guarantee from the Japan Bank for International Cooperation.
Indonesia, which is rated Baa3/BB+/BBB-, last priced a public bond deal in January when it priced a US$4bn 10-year and 30-year bonds, which received orders of over US$20bn.
The country is also meeting fixed-income investors in the US and Hong Kong starting next Monday. Those meetings will be arranged by Citigroup, HSBC and Standard Chartered