JAKARTA: Several Indonesian tycoons have agreed to buy into a special bond issuance that aims to raise as much as 50 trillion rupiah (US$3 billion), the first offered by Indonesian sovereign wealth fund Danantara, according to sources with direct knowledge of the matter.
The so-called patriot bonds are denominated in rupiah, have a coupon yield of 2 per cent, and initially had a maturity period of more than 20 years. However, this was later negotiated to five- and seven-year tenors, a senior Danantara official told The Straits Times on Monday (Aug 25).
