Indonesia makes Islamic debut, global deal to follow
Indonesia made a successful debut in the Islamic bond market on Friday, pricing a Rph4.7tr ($503m) bond split between seven and ten year tranches.
The long-awaited domestic deal allows the government to tap Islamic investors for the first time in the world's most populated Muslim nation, and serves as a precursor to the sovereign's planned debut in the global sukuk market, set for later this year.
The books for Indonesias domestic sukuk closed on Friday (August 22) after a week of orders. It paid 11.8% for the seven year tranche and 11.95% for the ten year deal, both led by Mandiri Sekuritas, Trimegah Securities and Danareksa Sekuritas.
Although it is the first sovereign deal of
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