Indonesia's Ministry of Finance recently issued renminbi-denominated Dim Sum Bonds for the first time, with a total size of RMB 6 billion (approximately IDR 13.9 trillion), setting a record for the country's offshore renminbi bond issuance. The bonds are planned in two tenors: 5-year coupon 2.5% (code RICNH1030) and 10-year coupon 2.9% (code RICNH1035).
Oversubscription reached 3 times, with final orders of RMB 18 billion. They have received investment-grade ratings from three major rating agencies (Moody's Baa2 / S&P BBB / Fitch BBB) and will be listed on the Singapore Exchange (SGX-ST). The issuance attracted significant participation from onshore Chinese investors and global capital, with final yields narrowing by 40-45 basis points from initial guidance.
The Ministry of Finance stated that this move aims to diversify financing channels and expand the global investor base. The funds raised will be used for the 2025 state budget financing. This is Indonesia's 18th global bond issuance under the SEC shelf registration method, marking the country's return to the international bond market and its first attempt at an offshore renminbi bond instrument. Bank of China, HSBC, and Standard Chartered Bank acted as joint lead managers.
Indonesia's Ministry of Finance recently issued renminbi-denominated Dim Sum Bonds for the first time, with a total size of RMB 6 billion (approximately IDR 13.9 trillion), setting a record for the country's offshore renminbi bond issuance. The bonds are planned in two tenors: 5-year coupon 2.5% (code RICNH1030) and 10-year coupon 2.9% (code RICNH1035).
Oversubscription reached 3 times, with final orders of RMB 18 billion. They have received investment-grade ratings from three major rating agencies (Moody's Baa2 / S&P BBB / Fitch BBB) and will be listed on the Singapore Exchange (SGX-ST). The issuance attracted significant participation from onshore Chinese investors and global capital, with final yields narrowing by 40-45 basis points from initial guidance.
The Ministry of Finance stated that this move aims to diversify financing channels and expand the global investor base. The funds raised will be used for the 2025 state budget financing. This is Indonesia's 18th global bond issuance under the SEC shelf registration method, marking the country's return to the international bond market and its first attempt at an offshore renminbi bond instrument. Bank of China, HSBC, and Standard Chartered Bank acted as joint lead managers.