OJK Approves Patriot Bonds as Collateral for Himbara Bank Loans

Key Points

• OJK approves BPI Danantara’s Patriot Bonds as collateral for Himbara bank loans to support national strategic projects.

• OJK emphasizes that bonds can be used as collateral for loans if they meet legal requirements, are listed on the Indonesia Stock Exchange (BEI), and have a clear credit rating.

• H.M. Sampoerna (HMSP) has invested IDR 500 billion in Patriot Bonds as a form of support for sustainable development.

Jakarta – The Financial Services Authority (OJK) has stated that Patriot Bonds issued by the Daya Anagata Nusantara Investment Management Agency (BPI Danantara) can be used as collateral for loans by state-owned banks (Himbara).

OJK Chief Executive of Banking Supervision, Dian Ediana Rae, said that OJK supports Danantara’s initiative to issue Patriot Bonds as a financing instrument to support national strategic projects.

Dian explained that, legally, bonds are securities that can be used as collateral for loans by banks as long as they comply with applicable laws and regulations.

“In general banking practice in Indonesia, bonds issued by both the government and corporations can, in principle, be accepted as collateral for loans if they meet certain requirements,” said Dian in a written response, quoted on Tuesday, November 4, 2025.

Dian explained that the assessment of these bonds needs to be conducted objectively, transparently, and sustainably, including being listed on the Indonesia Stock Exchange (IDX) and fulfilling the obligation of information disclosure to the public.

In addition, bonds that have a credit rating from a rating agency will be easier to assess in terms of risk and liquidity, thereby strengthening their position as a suitable collateral instrument.

“Furthermore, in implementing the Patriot Bond as collateral, several aspects can be considered, such as the bank’s risk appetite, risk management, and liquidity adequacy,” he said.

HMSP Becomes Patriot Bond Investor

For information, PT H.M. Sampoerna Tbk (HMSP) is one of the Patriot Bond investors. This cigarette issuer purchased Long-Term Debt Securities (SUJP) offered without a public offering in stages through PT Danantara Investment Management (Persero) worth IDR 500 billion.

The SUJP is an investment in the form of bonds or Patriot Bonds issued by BPI Danantara.

HMSP Corporate Secretary Andy Revianto said the total investment value was 1.76 percent of the company’s equity based on the audited annual financial statements as of December 31, 2024.

“This investment has no material impact on the Company’s financial condition or business continuity,” Andy said in a statement quoted on October 24, 2025.

Nevertheless, the company’s participation in the purchase of Patriot Bonds reflects HMSP’s commitment to supporting sustainable development and government programs in environmental management.

The following are details of the Danantara SUJP purchase made by HMSP:

1.    SUJP Series A worth IDR 250 billion with an interest rate of two percent per annum and a maturity period until October 22, 2030

2.    SUJP Series B worth Rp250 billion with an interest rate of two percent per year and a maturity period until October 21, 2032. (*)

Editor: Yulian Saputra