Indonesia in $3 Billion Offerings

December 11, 2018

Cleary Gottlieb represented the Republic of Indonesia in a $3 billion three-tranche U.S. SEC-registered offering, with maturities of five, 10, and 30 years.

ANZ, Citigroup, DBS, Deutsche Bank, and Goldman Sachs acted as joint bookrunners, while PT Bahana Sekuritas, PT Danareksa Sekuritas, and PT Trimegah Sekuritas Indonesia Tbk acted as co-managers.

The transaction priced on December 3, 2018, and closed on December 11, 2018. The securities are listed on the Singapore Exchange Securities Trading Ltd. and the Frankfurt Stock Exchange. Cleary also represented Indonesia in establishing its U.S. SEC-registered shelf and the filing of its first annual report on Form 18-K.

Indonesia is one of the most frequent sovereign debt issuers in Asia. This transaction is Indonesia’s second bond offering using its newly established U.S. SEC-registered shelf. The use of the shelf enabled it to take advantage of a conducive market backdrop post-G-20 summit to prefund its 2019 financing needs.