Jakarta. Sovereign wealth fund Danantara revealed Monday that its multi-billion-dollar global bond sales were selling like hot cakes among US investors.

Danantara has recently raised $1.5 billion from institutional investors in its debut bond sale, which was split equally between five-year and ten-year tranches. The bookbuilding process -- aimed at gauging market interests -- saw roughly $4.6 billion in demand, according to Danantara CEO Rosan Roeslani.

American investors made up 52% of the $1.35 billion final order books for the ten-year tranche. About 38% of the investors taking the five-year tranche had come from the US. The five-year term boasted over $1.45 billion in final books.

“When Indonesia issues bonds, we usually see the highest interest from Asian investors, but that’s not the case here. [Our global bonds] are mostly popular among US investors,” Rosan said in a news conference at the presidential office streamed live on the State Secretariat Ministry YouTube account.

“This shows that we have high international confidence,” he added.

The rest of the investors have come from the Middle East, Europe, and Asia.

The five-year bonds have a yield of 5.35%. The coupon is higher at 5.95% for the ten-year notes.

Investors are even “very open to buying bonds with a 30-year tenor”, according to Rosan. The fund had gone on a roadshow across major cities such as Hong Kong, New York, and London to promote the global bonds in recent weeks.

Speaking to the press after a closed-door meeting with Danantara later that day, Agus Harimurti Yudhoyono, the senior infrastructure minister who is on the fund’s supervisory board, welcomed how the $1.5 billion sale had become a “test of confidence”.

Agus claimed the meeting did not get into the details on what Danantara plans to do with the global bonds proceeds, including whether the money would go into funding the nationwide waste-to-energy rollout.