Bank Mandiri Issues US$750 Million Global Bonds, Oversubscribed Threefold
Bank Mandiri (BMRI) has issued global debt securities worth US$750 million with a five-year tenor and a coupon rate of 5.25%, maturing on 31 March 2026.
This issuance recorded an oversubscription of 3.3 times, reflecting strong interest from international investors in Bank Mandiri.
The issuance is significant as Bank Mandiri is the first issuer from Southeast Asia to return to the international bond market following increased geopolitical tensions in the Middle East at the end of February 2026.
Amid market conditions that were temporarily pressured by weakness in the US trading session, Bank Mandiri adopted a prudent approach by awaiting a more conducive momentum at the opening of the Asian market. Additionally, Bank Mandiri implemented an intraday execution strategy to limit exposure to market risks while optimising emerging positive momentum.
This strategy proved effective in maintaining transaction execution stability and garnering a positive response from global investors, supported by Bank Mandiri’s track record as an active issuer in international markets and its strong relationships with its investor base, in line with efforts to strengthen the company’s sustainable competitive advantages.
Bank Mandiri’s Director of Treasury & International Banking, Ari Rizaldi, stated that the high investor interest reflects global confidence in Bank Mandiri’s fundamentals and financial performance. This step further affirms the solid business foundation of the bank with the stock code BMRI, to drive accelerating growth amid global market dynamics.
“The results of this transaction show that international investors continue to have confidence in Indonesia’s fundamentals and Bank Mandiri amid challenging macroeconomic conditions and global geopolitical dynamics. The funds obtained will be used for general corporate purposes to support business growth,” Ari said in his official statement on Thursday (2/4/2026).
The debt securities received a BBB rating from S&P Global Ratings and Fitch Ratings, and are listed on the Singapore Exchange. The high investor confidence is reflected in the diversified distribution, with allocations to fund managers and asset managers (85%), banks (8%), government institutions and sovereign wealth funds (3%), insurance companies (3%), and private banks (1%). By region, investors come from Asia (69%), Europe, Middle East, and Africa/EMEA (26%), as well as offshore US investors (5%).
This investor diversification reinforces Bank Mandiri’s sustainable competitive advantages in maintaining international market confidence through strong fundamentals and disciplined funding strategies. The transaction was supported by DBS Bank Ltd., HSBC, J.P. Morgan, Mandiri Sekuritas, and Standard Chartered Bank, acting as Joint Bookrunners and Joint Lead Managers.