Indonesia plans to price rupiah-denominated seven- to 10-year sukuk on Aug. 26

By Aaron Hochman-Zimmerman

New York, Aug. 8 - The Republic of Indonesia (Ba3/BB-/BB) plans to sell a rupiah-denominated seven- to 10-year sukuk on Aug. 26, according to the Jakarta Post.

The issue, expected to price on Aug. 26, will be the country's first Islamic bond.

PT Danareksa Sekuritas, PT Mandiri Sekuritas and PT Trimegah Securities will act as bookrunners for the deal.

Depending on the success of the offering, a dollar-denominated sukuk will follow in October or November.

Indonesia reopened its conventional bonds due 2014, 2018 and 2038 for $2.2 billion on June 17.

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