The Indonesian Government Successfully Launched The First Dim Sum Bonds Raup Rp13.9 Trillion

JAKARTA - The Indonesian government has launched its first Government Securities (SUN) in foreign currency Chinese Renminbi (CNH) or Dim Sum Bonds.

Dim Sum Bonds for the first time through the SEC Shelf Registered format, managed to raise funds of 6 billion yuan or around Rp. 13.9 trillion (assuming an exchange rate of Rp. 2,328 per CNH).

This transaction marks the Government's success in issuing the SEC-registered Global Bonds for the eighteenth time.

Meanwhile, Dim Sum Bonds was issued in two series, the first is the 5-year tenor (RICNH1030) worth 3.5 billion yuan with an maturity date of 31 October 2030 and the coupon of 2.5 percent fixed.

Second, the 10-year tenor (RICNH1035) is 2.5 billion yuan with 2.9 percent fixed coupons and is due October 31, 2035.

The Directorate General of Financing and Risk Management (DJPPR) of the Ministry of Finance said that the issuance was carried out on October 23, 2025 with a completion date on October 31, 2025. The results of the issuance will be used to finance the needs of the 2025 State Budget, as well as expand the global investor base.

"This issuance has succeeded in attracting widespread interest from global investors, including Chinese onshore investors, with a total final orderbook reaching CNH18 billion," he said in a written statement, quoted Monday, October 27.

The high interest in investors allows the Government to set a more competitive final yield rate than the Initial Price Guidance, with a decrease of 45 basis points (bps) for a 5 year tenor and 40 bps for a 10-year tenor.

Thus, the final yield for the 5-year tenor was recorded at 2.5 percent, while the 10-year tenor was 2.9 percent. This issuance is an important milestone in strengthening the potential increase in investment from Chinese-based investors in the future.

The first issuance of Dim Sum Bonds by the Government of Indonesia is one of the efforts to diversify APBN financing as well as expand the global investor base.

Meanwhile, the high interest of investors, including Chinese domestic investors, reflects investor confidence in economic stability, growth prospects, and credibility in Indonesia's fiscal management.

The proceeds from the issuance of these bonds will generally be used to finance the 2025 State Budget.

The published bonds are rated Baa2 from Moody's, BBB from Standard & Poor 's, and BBB from Fitch, and will be listed on the Singapore Exchange Securities Trading Limited (SGX-ST).

Bank of China, HSBC, and Standard Chartered Bank act as Joint Lead Managers in this transaction.