Indonesia lists USD 2.35 bn sukuk on Nasdaq Dubai

Indonesia lists USD 2.35 bn sukuk on Nasdaq Dubai: Indonesia listed a USD 2.35 bn three-tranche sukuk on Nasdaq Dubai, according to a statement. This raises the value of sukuk listed on the exchange to USD 93.89 bn, and the total debt listed to USD 134.1 bn, the statement said.

The details: The sukuk — listed on the Singapore Exchange in a dual listing — was 1.9x oversubscribed with the order book reaching a total of USD 4.5 bn, Indonesia’s Ministry of Finance said in a press release. The three tranches include: a five-year USD 750 mn tranche due 2029 with a 5.1% yield; a 10-year USD 1 bn tranche due 2034 with a 5.2% yield, and a USD 600 mn green sukuk tranche due 2054 with a 5.5% yield. The tranches are set to get a rating of Baa2 by Moody’s Investor Service, BBB by S&P Global Ratings Services, and BBB by Fitch Ratings. The issuance went to Asian, European, and Middle Eastern investors.

Advisors: Citigroup, Dubai Islamic Bank, HSBC, Mandiri Securities, and MUFG were tapped as joint lead managers and bookrunners. HSBC and MUFG were appointed as joint green structuring advisors. PT BRI Danareksa Sekuritas and PT PT Trimegah Sekuritas Indonesia Tbk acted as co-managers.