Watch Jasa Marga launch first Komodo Bond in London
Nikhil Rathi, CEO, LSE Plc, welcomes Rini M. Soemarno, Ministry of State Owned Enterprises, Republic of Indonesia, Desi Arryani, CEO, Jasa Marga at the launch of the first ever Komodo Bond.
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.