Republic of Indonesia’s $2.5 Billion Sukuk Offering

White & Case LLP has advised the Republic of Indonesia (RoI) on the deal.

Republic of Indonesia (RoI) completed the update of the RoI’s Rule 144A/Reg S US$25 billion Trust Certificate Issuance Programme and its subsequent US$2.5 billion triple tranche sukuk offering thereunder, including a US$750 million tranche of Green sukuk.

The offering closed on June 23, 2020 and involved the issuance of a tranche of US$750 million Green sukuk due 2025, a tranche of US$1 billion sukuk due 2030 and a tranche of US$750 million sukuk due 2050. The Arrangers and Joint Lead Managers on the transaction were HSBC, BNP Paribas, Standard Chartered Bank, Maybank and Dubai Islamic Bank.

The White & Case team which advised the Republic of Indonesia on the transaction included partners Kaya Proudian (Singapore; Picture) and Debashis Dey (Dubai & London), counsel Xuan Jin (Dubai) and associate Hendy Handoko (Singapore).

Involved fees earner: Debashis Dey – White & Case; Hendy Handoko – White & Case; Xuan Jin – White & Case; Kaya Proudian – White & Case;

Law Firms: White & Case;

Clients: Republic of Indonesia;

Author: Michael Patrini