Clifford Chance advises on the Republic of Indonesia's SEC-registered bond offering amounting to US$1.8 billion and €750 million

Clifford Chance advises on the Republic of Indonesia's SEC-registered bond offering amounting to US$1.8 billion and €750 million

Global law firm Clifford Chance has advised the underwriters of the Government of the Republic of Indonesia's SEC-registered dual currency global bond issuance, listed on the Singapore Exchange (SGX) and the Frankfurt Stock Exchange (FWB). The transaction is the Republic of Indonesia's fifteenth issuance of global bonds in SEC-registered format.

The triple-tranche issuance comprises €750 million 8-year, US$1.15 billion 10-year, and US$650 million 30-year bonds. The transaction is also the Republic of Indonesia's second issuance of a Sustainable Development Goals (SDG) bond in Euro.

Partner Alan Yeung said, "We are proud to have advised on this significant dual-currency bond issuance for the Republic of Indonesia. The high investor interest reflects strong confidence in Indonesia's economy, and the success of this issuance highlights our ability to advise on complex, cross-border capital markets transactions by sovereign issuers."

Alan was supported by counsel Stephanie Liman and associate Zheyi Feng in Singapore, and trainee solicitor Charmaine Fang in Hong Kong.

Citigroup, Crédit Agricole CIB, Deutsche Bank (B&D), Goldman Sachs and Société Générale acted as Joint Lead Managers. PT BRI Danareksa Sekuritas and PT Trimegah Sekuritas Indonesia Tbk acted as Co-Managers.

Clifford Chance has a strong track record of advising on the Republic of Indonesia's issuance of global bonds under its US SEC-registered bond programme, including its US$1.75 billion and US$2.65 billion issuances (the latter including a switch tender offer) in 2022, and its US$2 billion, €1 billion and US$4.3 billion issuances in 2020. The firm also recently advised the Republic on its US$2.35 billion global sukuk in 2024, having previously advised on its US$3 billion sukuk in 2021 and US$2.5 billion sukuk in 2020.