“The patriot bond is very good, very successful. It represents trust in the state, from what was conveyed by the President and fought for by Mr. Rosan. Danantara’s performance is excellent. This is proof of confidence in the state,” said Minister of Housing and Settlements Maruarar Sirait after attending a limited cabinet meeting at the Presidential Palace in Jakarta on Thursday (Sept. 4), as quoted from an interview recording received Friday.
Maruarar, popularly known as Ara, said the President highly appreciated Danantara’s performance during the meeting.
At the same venue, in a separate statement, Investment Minister and Danantara CEO Rosan Perkasa Roeslani confirmed that several major conglomerates, including the Djarum Group and tycoon Prajogo Pangestu, had expressed interest in the patriot bond. However, he declined to provide further details.
“Everyone is participating,” Rosan said, referring to national business leaders.
Danantara launched the patriot bond last month during a gathering with several Indonesian business figures in Jakarta. The event was also attended by Cabinet Secretary Teddy Indra Wijaya, who delivered remarks before the business community.
The patriot bond is the first debt instrument issued by Danantara and is expected to raise up to Rp50 trillion (US$3.3 billion). It comes in two series with maturities of five and seven years, both offering a two percent yield.
Separately, Danantara’s Chief Investment Officer Pandu Sjahrir said last month that the patriot bond is a strategic financing instrument widely used in other countries to strengthen domestic funding independence. He noted that Japan and the United States are among the nations that have adopted similar mechanisms.
According to Pandu, the patriot bond provides the state with a stable source of medium- to long-term financing, while giving businesses access to a secure investment instrument that also benefits the national economy.
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Translator: Genta, Azis Kurmala
Editor: Primayanti
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