Tycoons Pledge to Buy $3 Billion of Indonesian ‘Patriot’ Bonds

Indonesia’s newly established sovereign wealth fund Danantara has received enough pledges from the nation’s wealthiest tycoons for its plan to issue 50 trillion rupiah ($3 billion) of so-called patriot bonds, people familiar with the matter said.

Between 40 and 50 investors will participate in the offering with some committing 3 trillion rupiah each, according to the people, who asked not to be identified as the talks are private.