Coal
Sources say that Danantara Indonesia’s $3 billion ‘Patriot’ bonds issue has been oversubscribed
Two sources familiar with the matter on Tuesday said that the sovereign wealth fund Danantara Indonesia has received more commitments for its "Patriot Bond" offering than the 50 trillion rupiah (3 billion dollars) target. The bonds were sold to companies in five- and seven-year tranches at a rate of 2%. This is lower than the 10-year government bond yield, which is around 6%. They will help finance Indonesia's energy programs, including waste-to-energy. One source said that the launch of the bond was originally scheduled for October 1, but it will be delayed. She did not give any details but stated...