Chicago, July 27 – Indonesia through Perusahaan Penerbit SBSN Indonesia III (PPSI III) sold $2.5 billion of dollar-denominated trust certificates (sukuk) in three parts (Baa2/BBB/BBB), according to listing prospectuses.
The issuer priced $750 million 2.3% trust certificates due June 23, 2025.
Indonesia sold $1 billion 2.8% trust certificates due June 23, 2030.
Also sold were $750 million 3.8% trust certificates due June 23, 2050.
BNP Paribas, Dubai Islamic Bank PJSC, HSBC Ltd. (stabilizing manager), Malayan Banking Berhad and Standard Chartered Bank were managers for the offering.
The proceeds of the notes are intended for general budgetary purposes, including for financing requirements.
| Issuer: | Perusahaan Penerbit SBSN Indonesia III (PPSI III).
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| Obligor: | Republic of Indonesia
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| Issue: | Sukuk
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| Amount: | $2.5 billion
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| Dealers: | BNP Paribas, Dubai Islamic Bank PJSC, HSBC Ltd. (stabilizing manager), Malayan Banking Berhad and Standard Chartered Bank
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| Co-managers: | PT Danareksa Sekuritas and PT Trimegah Sekuritas Indonesia Tbk
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| Trustee: | Bank of New York Mellon
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| Pricing date: | June 16
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| Settlement date: | June 23
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| Ratings: | Moody’s: Baa2
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| S&P: BBB
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| Fitch: BBB
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| 2025 sukuk
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| Amount: | $750 million
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| Maturity: | June 23, 2025
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| Coupon: | 2.3%
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| Price: | Par
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| Yield: | 2.3%
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| 2030 sukuk
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| Amount: | $1 billion
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| Maturity: | June 23, 2030
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| Coupon: | 2.8%
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| Price: | Par
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| Yield: | 2.8%
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| 2050 sukuk
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| Amount: | $750 million
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| Maturity: | June 23, 2050
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| Coupon: | 3.8%
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| Price: | Par
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| Yield: | 3.8%
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