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Asian Development Bank raises 1 trillion rupiah from bond issue

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Asian Development Bank raises 1 trillion rupiah from bond issue

Asian Development Bank raised 1 trillion Indonesian rupiah from a new issue of rupiah-linked bonds.

The fixed-rate bond matures in December 2028 and carries a 6.30% coupon, the policy lender said in a Dec. 8 release.

The transaction is the first bond issue from a multilateral development bank of which Indonesia is a shareholder. Proceeds from the issuance will be used to support the lender's local currency lending in Indonesia.

JP Morgan is the sole lead manager of the issue, with the bonds placed mainly with banks and fund managers in the Americas and Europe.

As of Dec. 8, US$1 was equivalent to 13,549 Indonesian rupiah.