Bank Mandiri Raises Rp 12.75 Trillion from Global Bond, Asian Investors Dominant
JAKARTA - PT Bank Mandiri (Persero) Tbk has issued a global bond worth US$750 million, equivalent to approximately Rp 12.75 trillion at an exchange rate of Rp 17,000 per US dollar.
The global bond has a 5-year tenor with a 5.25% coupon. The issuance was conducted on 31 March 2026. The proceeds will be used for corporate needs to support business expansion.
Bank Mandiri’s Director of Treasury and International Banking, Ari Rizaldi, stated that the company became the first issuer from Southeast Asia to re-enter the international bond market following the escalation of geopolitical tensions in the Middle East at the end of February 2026.
The company also employed an intraday execution strategy to limit market risk while capturing positive momentum.
This strategy was deemed effective. The transaction execution remained stable and received a positive response from global investors. Support came from Bank Mandiri’s track record as an active issuer in the international market and its strong relationships with investors.
“The results of this transaction demonstrate that international investors continue to have confidence in Indonesia’s and Bank Mandiri’s fundamentals amid challenging macroeconomic conditions and global geopolitical dynamics,” Ari said in a written statement on Thursday (2/4/2026).
The issuance recorded an oversubscription of 3.3 times, reflecting high interest from global investors.
Investor distribution was also diverse. The largest allocation came from fund managers and asset managers at 85%. Banks contributed 8%. Government institutions and sovereign wealth funds accounted for 3%. Insurance companies 3%. Private banks 1%.
“This investor diversification reinforces Bank Mandiri’s sustainable advantage in maintaining international market confidence through strong fundamentals and disciplined funding strategies,” he explained.
The global bond received a BBB rating from S&P Global Ratings and Fitch Ratings. The instrument is also listed on the Singapore Exchange.
The transaction was supported by DBS Bank Ltd., HSBC, J.P. Morgan, Mandiri Sekuritas, and Standard Chartered Bank as Joint Bookrunners and Joint Lead Managers.