GC
Indonesia brings back green sukuk
The Republic of Indonesia rolled out its annual Islamic finance transaction on Tuesday, taking $2.5bn from a three-tranche sukuk. The sheer strength of investor interest surprised the bankers on the bond, leading to a hefty 70bp tightening and a deal that offered negative new issue premium.
The deal marked Indonesia’s third time in the dollar market this year.
In January, Indonesia raised more than $3bn from a dollar and euro trade. The country followed that up with a $4.3bn triple-tranche bond in April to help fund its Covid-19 pandemic relief ...Already a subscriber? Login
