Danantara’s Patriot Bonds Oversubscribed? Here’s the Buyers' List

Key Summary:
- Danantara Investment Management received AAA rating
- 46 conglomerates are participating, amounting to IDR51tn
- Proceeds will be used to support national strategic projects
According to an unofficial data from Kontan, Danantara's “Patriot” bond issuance was reportedly oversubscribed, with demand amounting to IDR 51.75 trillion, which was slightly above the IDR 50 trillion initial target.
First, what’s Patriot bonds? Indonesia’s sovereign wealth fund, Danantara, plans to raise IDR 50 trillion (equivalent to around $3 billion) in bond issuances, which will be used to accelerate the government’s strategic initiatives.