Get Ready! SMI to Issue Bonds This Year, Invite the Public to Invest in Infrastructure
Jakarta, VIVA – PT Sarana Multi Infrastruktur (SMI), the subsidiary and Special Mission Vehicle of the Ministry of Finance, has announced plans to issue bonds in 2026. The move is part of a strategy to diversify funding sources and to widen public participation in supporting infrastructure development across Indonesia.
Chief Executive Reynaldi Hermansjah of PT SMI said the bond issue this time is targeted primarily at the general public. Previously, bond issuances have mostly aimed at traditional institutional investors such as banks, pension funds, insurers, and corporations.
‘We also convey the plan for PT Sarana Multi Infrastruktur to issue bonds in which this issuance will provide broader opportunities for the general public to participate,’ Mr Hermansjah said at a Media Briefing in Jakarta on Tuesday, 3 March 2026.
Reynaldi stressed that no profit target is set from the bond issuance. He emphasised SMI’s role as a fiscal tool of the government with a mandate to build infrastructure in Indonesia to promote inclusive growth across the country.
Issuing bonds, he noted, is a way for an entity that acts as a financing institution to secure funding through the capital market. In issuing debt securities via the capital market, SMI seeks to be innovative in both type and tenor.
SMI first issued bonds in 2014 and has consistently been one of the active bond issuers in the domestic market. Instruments issued include Green Bond, Sustainability Bond, Sukuk Mudharabah, and the first zero-coupon bonds in 2025.
Recently, the company issued long-tenor zero-coupon bonds with maturities of 10 to 15 years in 2025. Total funds raised via domestic issuances have surpassed Rp 50 trillion since 2020 to 2025.
Bond issuance accounted for 35 per cent of SMI’s funding mix. Of the remainder, 32 per cent came from government loans, 32 per cent from bank loans, and 1 per cent from Development Financial Institutions (DFI).
Not only to broaden the investor base, the bond issue also carries sustainability principles. Mr Reynaldi said the proceeds from the 2026 issue will be focused on financing projects in the new industrial sectors and renewable energy.