{"id":85330,"date":"2024-07-11T00:00:00","date_gmt":"2024-07-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/07\/11\/indonesia-lists-usd-600-mn-green-sukuk-on-nasdaq-dubai\/"},"modified":"2024-07-11T00:00:00","modified_gmt":"2024-07-11T00:00:00","slug":"indonesia-lists-usd-600-mn-green-sukuk-on-nasdaq-dubai","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/07\/11\/indonesia-lists-usd-600-mn-green-sukuk-on-nasdaq-dubai\/","title":{"rendered":"Indonesia lists USD 600 mn green sukuk on Nasdaq Dubai"},"content":{"rendered":"

<\/strong>Indonesia <\/strong>lists green sukuk on Nasdaq Dubai:<\/strong> The Republic of Indonesia has listed a three-tranche global sukuk issuance totalling USD 2.35 bn on Nasdaq Dubai, including a USD 600 mn green sukuk tranche, according to a statement<\/a>. <\/p>\n

What we know: <\/strong>The issuance \u2014 listed on the Singapore Exchange in a dual listing \u2014 was 1.9x oversubscribed with the order book reaching a total of USD 4.5 bn, Indonesia\u2019s Ministry of Finance said in a <\/span>press release<\/a>. The tranches are set to get a rating of Baa2 by Moody\u2019s Investor Service, BBB by S&P Global Ratings Services, and BBB by Fitch Ratings.<\/span><\/p>\n

About the green sukuk: <\/strong>The USD 600 mn green sukuk tranche is due 2054 with a 5.5% yield, according to the ministry. The sukuk attracted global investors with 34% of the issuance being distributed to Asian investors, 27% to the US, 29% to Europe and 9% to the Middle East and Malaysia. Out of the three tranches issued, the green sukuk had the longest maturity date and lowest value. <\/p>\n

Advisors: <\/strong>Citigroup, Dubai Islamic Bank, HSBC, Mandiri Securities, and MUFG were tapped as joint lead managers and bookrunners. HSBC and MUFG were appointed as joint green structuring advisors. PT BRI Danareksa Sekuritas and PT PT Trimegah Sekuritas Indonesia Tbk acted as co-managers.<\/p>\n

Nasdaq Dubai has been on a roll: <\/strong>Over 50% of globally issued USD-denominated sustainable ESG sukuk<\/a> have been listed on Nasdaq Dubai during 1Q 2024. The exchange also welcomed sustainability-linked USD 750 mn sukuk<\/a> from Emirates Islamic last month, USD 1 bn green sukuk<\/a> from Dubai Islamic Bank in February, and USD 600 mn green bonds<\/a> from China Construction Bank.<\/p>\n","protected":false},"excerpt":{"rendered":"

The 30-year USD 600 mn green sukuk were priced at 5.50%<\/p>\n","protected":false},"author":1,"featured_media":85331,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[54],"tags":[53,11,153],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-85330","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capital-markets","tag-capital-markets","tag-enterpriseclimate","tag-green-sukuk","wpautop","entry"],"acf":{"mongo_id":"a4cbe73d-fb76-43bc-be38-43548ac863b4","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/891.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Indonesia lists USD 600 mn green sukuk on Nasdaq Dubai","related_issue":[85325],"teaser":"The 30-year USD 600 mn green sukuk were priced at 5.50%","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.2215683f-0611-4074-b9dc-56a8839546fc.mp3"},"yoast_head":"\nIndonesia lists USD 600 mn green sukuk on Nasdaq Dubai - 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