Indonesia state-owned agribusiness company issues maiden sukuk
JAKARTA – Indonesia’s state-owned agribusiness, pharmaceutical and medical devices supplier PT Rajawali Nusantara Indonesia (RNI) tapped the sukuk market for the first time, raising 200 billion Indonesian rupiah ($14.993 million) through a sale of sukuk ijarah, Yana Aditya, its finance director told reporters in Jakarta yesterday.
RNI has previously relied on conventional bank financing and sales of medium term notes (MTN).
The single tranche three-year sukuk was priced at 10 percent and was 2.4 times over-subscribed, generating orders of 475 billion rupiah, according to Aditya.
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