Indonesia launched a tiered USD sovereign sukuk sale on Thursday — its first dollar bond offering since MSCI warned last month it could remove Indonesian local equities. The deal comprises three tranches (3-, 5- and 10-year) with initial price guidance near 5.7%, 6.1% and 6.55%; the 3-year priced at about 5.7%. MSCI said Indonesia's remediation efforts were insufficient and the country could be downgraded two notches to a category alongside Zimbabwe. The last Indonesian sovereign dollar issuance

Indonesia launched a tiered USD sovereign sukuk sale on Thursday — its first dollar bond offering since MSCI warned last month it could remove Indonesian local equities. The deal comprises three tranches (3-, 5- and 10-year) with initial price guidance near 5.7%, 6.1% and 6.55%; the 3-year priced at about 5.7%. MSCI said Indonesia's remediation efforts were insufficient and the country could be downgraded two notches to a category alongside Zimbabwe. The last Indonesian sovereign dollar issuance was in May, $2bn across two tranches.