Indonesia's Danantara plans dollar bond sale worth at least $500 mln, sources say
Danantara, Indonesia's sovereign wealth fund, plans to issue dollar bonds worth $500 million. These long-dated bonds will extend the fund's offshore funding into longer maturities. The issuance aims to match overseas equity investments with long-term USD funding. This move will also reduce pressure on the Indonesian rupiah currency. The fund has hired several banks to manage the potential bond deal.
In a circular dated August 27, the regulator said that it had received representation from New Development Bank to permit Insurers to invest in Maharajah INR Bonds. NDB plans to use the proceeds for general corporate purposes, including financing or onward lending to sustainable development, sustainable infrastructure, green and social projects in India.
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