Dozens of Indonesia’s wealthiest business figures are reportedly showing interest in the Patriot Bonds issued by the state-owned investment agency BPI Danantara, with funds raised reaching Rp51.75 trillion (US$3.1 billion).
According to information obtained by Katadata, top tycoons such as Budi Hartono, Antony Salim, Prajogo Pangestu, Sugianto Kusuma, Franky Widjaja, Boy Thohir, Edwin Soeryadjaya, and James Riady are among those on the list of potential investors.
Danantara CEO Rosan P. Roeslani previously revealed that several prominent business leaders had already expressed interest in the bonds. Among them are Prajogo Pangestu and the Djarum Group. “Everyone is participating,” Rosan said at the Merdeka Palace in Jakarta earlier this month.
The Patriot Bonds are designed to raise up to US$3.1 billion (Rp50 trillion), with proceeds allocated to strategic projects, including waste management. The bonds are offered with yields below market rates and will be managed by Mandiri Sekuritas. Launched under the theme Patriot Bonds: A Love Letter for Indonesia’s Future, the program will be conducted through a private placement scheme targeting Indonesia’s top business elites.
PT Danantara Investment Management has received a AAA (idn) rating from Fitch Ratings Indonesia ahead of the issuance. The top rating, the highest of eleven levels assessed by Fitch, was awarded despite Danantara’s short operational history. The institution, which has been operating for less than a year, acknowledged in its official statement that the Patriot Bonds worth Rp50 trillion would be its first-ever bond issuance.
Fitch Ratings, part of the world’s “big three” credit rating agencies alongside Moody’s and S&P, said the AAA rating reflects Danantara’s strong financial prospects. Such ratings play an important role in guiding investor decisions by assessing the issuer’s ability to meet financial commitments.
With backing from both the state and Indonesia’s leading conglomerates, the Patriot Bonds are positioned as a landmark financial instrument aimed at supporting the country’s long-term development agenda.
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