London Stock Exchange welcomes Jasa Marga celebrating the listing of the first global Komodo Bond
London Stock Exchange today welcomes the listing of the world’s first Indonesian offshore rupiah - denominated bond – a Komodo bond - issued by an Indonesian State Owned Enterprise to its new international Securities Market. The landmark bond issuance from Jasa Marga, state-owned Indonesian toll road operator, was close to four times over subscribed. The listing paves the way, through London, for the opening of the global Komodo bond market to support Indonesian company and infrastructure financing.
The three year dated Komodo bond raised IDR 4 trillion (USD 295.7 million equivalent), with a coupon of 7.5% and secured global investor support. The proceeds of the bond will be used by Jasa Marga to access global investors, through London, to support the development of the country's infrastructure plans and accelerate national economic growth. This is another example of London financing global growth.