Indonesia has raised $2.2 billion from two U.S. dollar-denominated Islamic bonds, or sukuk, showed a term sheet seen by Reuters on Thursday.
The Southeast Asia’s largest economy raised $1.1 billion from a five-year sukuk with a yield of 4.550%, and another $1.1 billion from a 10-year green sukuk at 5.2%, the term sheet showed.
A government spokesperson was not immediately available to comment before business hours on Thursday.
The bond issuance came after U.S. President Donald Trump announced a trade deal with Indonesia on Tuesday involving a 19% tariff on goods the U.S. imports from Indonesia – down from the 32% rate he proposed earlier in the year.
A spokesperson for Indonesian President Prabowo Subianto told reporters on Wednesday that the trade deal was reached after an “extraordinary struggle” in negotiations which resulted in the reduction of the proposed U.S. tariff.
Indonesia’s central bank cut interest rates later on…
