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Indonesia lists three sukuk valued at $2.5bn on Nasdaq Dubai

Indonesia lists three sukuk valued at $2.5bn on Nasdaq Dubai

The listings consist of a 10-year issuance of $1bn and two issuances of $750m each

The Indonesian government has listed three sukuk valued at $2.5bn on Nasdaq Dubai to fund the country’s economic and social development.

The sukuk, nearly 6.7 times subscribed, include international investors in Asian and Middle East countries, Dubai Media Office reported.

The listings consist of a 10-year issuance of $1bn and two issuances of $750m each, one of a five-year maturity and the other for 30 years.

The five-year $750m sukuk is a green issuance, earmarked for sustainable development projects. Indonesia has three green sukuk listings on Nasdaq Dubai while its framework is rated Medium Green by CICERO.

The Indonesian government is also the largest sukuk issuer on Nasdaq Dubai in terms of value and number of listings, with securities totalling $17.5bn from 14 issuances.

Read: Indonesia lists two green sukuk valued at $2bn on Nasdaq Dubai

Abdul Wahed Al Fahim, chairman of Nasdaq Dubai, said: “Nasdaq Dubai is strengthening its support for the sukuk sector through outreach initiatives in our region and internationally to issuers who can benefit from the high global profile that the exchange provides. We are preparing for a wide range of new listings in coming months, drawing on our close relationships within the Islamic capital markets.”

Nasdaq Dubai now hosts six green and one sustainable sukuk with a cumulative value of $6.55bn, underlining its regional participation in the environmental, social and governance (ESG) sector.

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