Indonesia's Danantara unit raises $1.5 billion in debut dollar bond

SINGAPORE ― A unit of Indonesia’s sovereign wealth fund Danantara raised $1.5 billion in its debut US dollar bond sale, a term sheet seen by Reuters early on Friday showed, after strong demand allowed it to increase the deal size and cut the final yields. The sale was a key test of foreign investor appetite for Indonesian assets at a time when investors have worried about a sharp fall in the rupiah, President Prabowo Subianto’s populist policies and Danantara’s widening role in