Nasdaq Dubai has welcomed the listing of three Sukuk issuances from the Republic of Indonesia, totaling USD 2.75 billion.
These Sukuk are part of Indonesia’s USD 45 billion Trust Certificate Issuance Programme and mark the country’s fourth successful entry into the USD debt capital market in 2024. This positions Indonesia as the only Asian sovereign to achieve this feat, showcasing continued strong investor interest in its offerings.
The newly listed Sukuk tranches include:
- USD 1.1 billion 5.00% Trust Certificates, due 2030
- USD 900 million 5.25% Trust Certificates, due 2034
- USD 750 million 5.65% Trust Certificates, due 2054
With this latest addition, the total value of Sukuk listed on Nasdaq Dubai has reached USD 98.9 billion, reinforcing Dubai’s status as the leading global hub for Sukuk issuances.
Indonesia remains one of the largest Sukuk issuers on Nasdaq Dubai, with the total value of its listed Sukuk now at USD 24.6 billion across 21 listings. The occasion was marked by a bell-ringing ceremony with H.E. Husin Bagis, Ambassador of the Republic of Indonesia to the UAE, and Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM).
H.E. Husin Bagis emphasized the significance of the issuance, stating that it reflects strong investor confidence in Indonesia's economic stability. Hamed Ali also noted that the listings highlight the growing partnership between Indonesia and Dubai and reaffirm Nasdaq Dubai’s role as a premier global hub for Islamic finance.
The issuance was oversubscribed by 1.8 times, underscoring the strong market demand for Indonesia's Sukuk.
News Source: Dubai Media Office
