JAKARTA: Danantara is seeking to raise the equivalent of US$1bil through a multi-currency loan, sources say, as the Indonesian sovereign wealth fund ramps up investments after deploying more than US$5bil this year.
DBS Group Holdings Ltd, HSBC Holdings Plc, Standard Chartered Plc and United Overseas Bank Ltd are underwriters of the three-year revolving credit facility, the sources said.
The latest fundraising is an add-on to a US$1bil loan it sealed last year, which is also being extended to match the tenor of the current one, the sources said.
Proceeds from the latest loan being raised will be used for general corporate purposes, including financing acquisitions and investments in Danantara’s pipeline, the people said. It’s currently being syndicated to the broader market, they added.
A representative for Danantara didn’t respond to requests for comment.
Danantara’s fundraising plan coincides with the recent volatility in Indonesian equities, the world’s worst-performing. — Bloomberg
