Indonesia $1.5b sukuk receives huge order book

The Republic of Indonesia launched an Islamic bond on Tuesday after ramping up interest for the dollar sukuk for more than a month, making it one of the first debt issuers since the summer.

Indonesia's $1.5 billion 10-year sukuk obtained a order book of more than $10 billion from nearly 400 accounts, according to a source close to the deal. The source added that this is one of the largest order books received for an international Islamic bond issuance.

As a result, ROI was able to tighten pricing by 27.5bp, resulting in a final outcome of 4.35%. On a curve adjusted basis, its existing Islamic bond expiring...