The offering comes amid the growing concern among investors about some of President Prabowo initiatives
Published Wed, Jun 3, 2026 · 11:09 AM
[JAKARTA] Indonesian sovereign wealth fund Danantara has hired banks for a potential global US dollar bond offering, testing investor appetite amid economic headwinds facing the country.
Danantara hired Citigroup, DBS, HSBC, Mandiri Securities and Standard Chartered Bank as joint lead managers and joint bookrunners to arrange a series of fixed income investor meetings and calls in Asia, Europe and the US starting Wednesday (Jun 3), according to people familiar with the matter, who asked not to be identified discussing private matters. The mandate does not mean a deal will be concluded.
The potential offering comes amid the growing concern among investors about some of President Prabowo Subianto initiatives after Moody’s and Fitch Ratings both cut their credit outlooks for the nation to negative earlier this year.
Prabowo established Danantara last year in a bid to improve the efficiency of Indonesia’s powerful state-owned enterprises, reinvest the dividends and attract foreign capital into high-impact projects in South-east Asia’s largest economy. BLOOMBERG
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.