Finance Minister Purbaya targets 1 billion US dollar Panda Bonds issuance

Indonesian Finance Minister Purbaya Yudhi Sadewa stated that the government is targeting the issuance of Panda Bonds worth 1 billion US dollars. “Initially, we are targeting perhaps 1 billion US dollars, but we will see how the market is. If the market can absorb more, we will enlarge it, depending on market conditions,” Purbaya told ANTARA in Beijing on Thursday evening. The statement was made after Purbaya held meetings with China’s Minister of Finance Lan Fo’an, as well as officials from the People’s Bank of China (PBOC), the Asian Infrastructure Investment Bank (AIIB), and investors during an official visit to China from 16 to 19 June 2026. The Indonesian government is known to be preparing a plan to issue Panda Bonds in China to strengthen rupiah stability through the diversification of international financing sources. However, to issue Panda Bonds, the government, multilateral institutions, or foreign companies must meet the requirements of China’s financial authorities, namely the PBOC and the National Association of Financial Market Institutional Investors (NAFMII). “During the meeting with PBOC, we were asked to accelerate the submission of the permit, but the underwriter has not yet submitted it, and the PBOC requested that the permit be submitted immediately so they can process it. So their support for this plan is very good,” Purbaya added. With this support from the PBOC, Purbaya is optimistic that the Panda Bonds can be issued this year.