Indonesia offers US$3 billion in global sukuk across three maturities
Yields for all three tranches are below initial indications, with listings planned in Singapore and Dubai.
Indonesia's government is offering US$3 billion of US dollar-denominated sukuk across three-, five- and 10-year maturities, according to the latest term sheet seen by Reuters on 6 November 2026.
Reuters reported that yields for each tranche were below initial indications. The offering is split as follows:
- Three-year: US$500 million, offered at a yield of 5.450%, against an initial indication of around 5.70%, maturing in November 2029.
- Five-year: US$1 billion, launched at 5.850%, against an initial indication of around 6.10%, maturing in November 2031.
- 10-year: US$1.5 billion, priced at 6.250%, against an initial indication of around 6.55%, maturing in November 2036.
The sukuk will be listed on the Singapore Exchange and Nasdaq Dubai. Moody's assigned the securities a Baa2 rating, while S&P Global Ratings and Fitch Ratings each assigned BBB.
Bank of America, Dubai Islamic Bank, HSBC, JP Morgan (B&D) and KFH Capital are leading the sale. BNI Sekuritas, BRI Danareksa Sekuritas and Trimegah Sekuritas are serving as co-managers.
