Indonesia sells landmark $2b sukuk

The Southeast Asian nation prices the largest single-tranche Islamic bond ever despite volatile market conditions, obtaining a total order book of $6.8b.

Indonesia sells landmark $2b sukuk

The Republic of Indonesia sold a $2 billion 10-year Islamic bond, or sukuk, during Asian morning hours on Friday, pricing the world's largest-ever single-tranche shariah-compliant offering.

Rated Baa3BBBBB-, the Reg S144A note priced at 4.325%, 22.5 basis points tighter than its initial price guidance area, according to a term sheet seen by FinanceAsia.

The sukuk, which is also Indonesia's largest dollar Islamic bond ever, was sold...

To continue reading, please login or register for free

Click for more on: indonesia | sukuk | bonds | investment grade | sovereign

Print Edition

FinanceAsia Print Edition