SMI Opens Retail Infrastructure Investment with Coupons Up to 6.05 Per Cent
JAKARTA – PT Sarana Multi Infrastruktur (Persero) or PT SMI has opened new opportunities for the public to participate in infrastructure development financing through SMI Retail Infrastructure Bonds (ORIS).
This instrument is part of SMI’s Continuous Offering of Sustainable Bonds I Phase II 2026 with a target issuance indication of up to Rp 300 billion.
“Fixed coupon until maturity, paid monthly,” said SMI Director of Operations and Finance Aradita Priyanti in Jakarta on Monday, 9 March 2026.
“Returns are higher than the average interest rate of state-owned enterprise deposits,” she added.
The minimum order value for ORIS is set at Rp 5 million with multiples of Rp 1 million for any additional order value.
Coupon determination was conducted on 6 March 2026. The offering period or bookbuilding runs from 9 March to 9 April 2026.
The announcement of sales results is scheduled for 10 April 2026, whilst the settlement process or bond issuance will be conducted on 6 May 2026.
Payment of the first coupon to investors is scheduled for 6 June 2026, which also marks the end of the minimum holding period for investors.
For maturity, the bonds offer two tenor options. The first tenor has a duration of 370 days with maturity on 16 May 2027, whilst the second tenor has a three-year duration with maturity on 6 May 2029.
ORIS can also be traded in the secondary market after the minimum holding period.
The instrument has received an idAAA national rating from Pefindo, confirming its credibility and accountability within Indonesia’s domestic capital market ecosystem.
According to SMI officials, bond issuances since 2014 have primarily been dominated by institutional investors.
“ORIS is a manifestation of SMI’s transformation as an inclusive development finance institution, where we expand access for all segments of society to directly participate in national development,” said an SMI official.
“We want society not only to be observers but also active participants in Indonesia’s sustainable development ecosystem,” they added.
The official noted that through this instrument, SMI focuses not only on completing physical projects but also on the added value generated for society.
All funds raised through ORIS will be used to finance projects with positive social and environmental impact in accordance with SMI’s Sustainable Funding Framework.
These projects include “green” sectors such as renewable energy and environmentally friendly transport, as well as “social” sectors such as healthcare facilities, education, and clean water provision.