Indonesia’s 10 year triumph shows maturity in more ways than one

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By Steven Gilmore
04 Sep 2014

Indonesia proved it had come of age as a sukuk issuer this week. The issuer built its largest orderbook ever for an Islamic deal and beat its yield target as a result. But more important was the tenor. The sovereign enticed a host of accounts — new and old — into what was its largest and longest dated sukuk yet.

“The outcome was phenomenal,” said one Gulf based DCM banker involved in the deal, which drew over $10bn in orders to dwarf the sovereign’s previous record of $6.5bn — set in 2011 — for a sukuk order book. “All the necessary ingredients for a great trade were there,” ...

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