JAKARTA (TheInsiderStories) – The Republic of Indonesia, rated Baa3/BBB-/BBB, has appointed banks for a US dollar sukuk offering that could include the first offshore Green bond from an Asian sovereign, Reuters reported.
Abu Dhabi Islamic Bank, CIMB, Citigroup, Dubai Islamic Bank and HSBC are joint bookrunners. A series of fixed income investor meetings in Asia, Europe and the Middle East will start tomorrow.
The proposed 144A/Reg S offering will be issued under the Republic’s $25 billion trust certificate issuance programme, including a sukuk offering under the sovereign’s Green sukuk framework. The sukuk maturities are expected to be of five and 10 years, and the issuer may also consider the possibility of a longer dated tranche. (*)