Minister of State Own Enterprises (SOEs), Erick Thohir, urged a number of largest state firms to issue global bonds in order to attract foreign exchange to Indonesia amid the plague of COVID-19. He had asked several SOEs with good ratings to run the plans.

Earlier, vice minister at the ministry, Kartika Wirjoatmodjo said, the SOEs has room to issued billion dollars of global bonds this year. Beside the state banks and  Pertamina, state-owned flight carrier Garuda Indonesia (GIAA) and construction firm Waskita Karya (WSKT) also plans to release the global bond.

Bank Mandiri aimed to release global bond US$1.25 billion, part of the Sustainable Public Offering with an emission targets of US$2 billion. The bank plans to issues the notes in the second quarter of 2020.

Bank Tabungan Negara (BBTN) has planned to offer a junior global bonds worth of US$300 million. Pertamina plans to issue global bond in gradual with total amount of US$10 billion. In January 2020, Pertamina has issued US$1.5 billion with two tenors (10 and 30 years) and carrying annual coupon rates of 3.10% and 4.175% respectively.