Indonesia draws US$8.9 billion in orders for global sukuk
The government issued US$3 billion in dollar-denominated sukuk, with European and North American investors accounting for the largest shares of buyers.
Indonesia raised US$3 billion through a global sukuk offering after attracting orders worth US$8.9 billion when subscriptions opened in the first week of November 2026, Finance Minister Suahasil Nazara said.
Speaking in Jakarta on 13 November, Suahasil said the demand demonstrated international investors’ confidence in Indonesia’s dollar-denominated government securities. He put the overall subscription level at 2.9 times the amount issued.
Europe accounted for 31 per cent of investors buying the sukuk, followed by North America at 27 per cent, according to Suahasil. The Middle East and Africa represented 17 per cent, other parts of Asia 16 per cent and East Asia 9 per cent.
The dollar-denominated offering comprised three maturities, issued as RegS/144A Trust Certificates:
- US$0.5 billion over three years: SNI1129, maturing in 2029, with a yield of 5.45 per cent.
- US$1.0 billion over five years: SNI1131, maturing in 2031, with a yield of 5.85 per cent.
- US$1.5 billion over 10 years: SNI1136, maturing in 2036, with a yield of 6.25 per cent.
The transaction was the government’s sixth international capital-market issuance of the year. Its five earlier offerings used conventional instruments denominated in USD, EUR, CNH, JPY and CNY.
