Danantara may raise IDR50 trillion, Bloomberg reports

INDONESIA: Sovereign wealth fund Danantara, said to have US$1 trillion in AuM and oversees nearly 900 state firms, is seeking to raise IDR50 trillion (US$3.06 billion), Bloomberg reported. It isn’t clear how much of the planned debt securities in five- and seven-year parts at IDR25 trillion (US$1.53 billion) will be Shariah compliant, with target issuance on the 1^st October 2025. Both tranches of these ‘patriot bonds’ are likely to offer a 2% coupon, lower than the central bank’s 5.8% benchmark interest rate and 6.1% yields on comparable government bonds.