THE Republic of Indonesia successfully issued three sukuk on Nasdaq Dubai, amounting to US$2.75 billion. These issuances are part of its US$45 billion Trust Certificate Issuance Programme.
This issuance marks the fourth time this year that Indonesia successfully tapped the US dollar debt capital market. Indonesia is the only Asian sovereign that has done so.
The newly listed sukuk are:
• US$1.1 billion 5.00 per cent Trust Certificates, due 2030
• US$900 million 5.25 per cent Trust Certificates, due 2034
• US$750 million 5.65 per cent Trust Certificates, due 2054
These listings bolster Nasdaq Dubai’s position as the global leader in sukuk issuances, with a total listed value now reaching US$98.9 billion. As a leading sukuk issuer on Nasdaq Dubai, Indonesia has increased its total listed sukuk to US$24.6 billion with 21 listings.
“The three sukuk issuances by the Republic of Indonesia represent a remarkable achievement. Despite global financial challenges, the government successfully entered the market, attracting interest from a diverse range of investors across geographies,” said Ambassador of the Republic of Indonesia to the UAE Husin Bagis.
In recognition of this milestone, Husin rang the market’s opening bell alongside the Indonesian Embassy in Abu Dhabi Finance Attaché Eko NM Saputro and Nasdaq Dubai and Dubai Financial Market (DFM) Chief Executive Officer (CEO) Hamed Ali.
According to Hamed, this achievement also underscored the strong partnership between Indonesia and Dubai. The successful issuance, with an oversubscription rate of 1.8 times, demonstrates strong confidence from global investors in Indonesia’s economic trajectory. Ultimately, it strengthens Nasdaq Dubai’s position as a premier global hub for Islamic finance.
