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| Republic of Indonesia sukuk |
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When it came to market in late November last year, the Republic of Indonesia’s second globally marketed US dollar sukuk broke barriers in its maturity and yield.
The $1 billion deal was 6.5 times oversubscribed. It priced to yield 4%, which was 25bp inside initial price guidance of around 4.25%. This was also more than 2% below what Italy paid for a €3 billion five-year sovereign bond the same day, despite Italy’s higher rating.
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