Cleary Gottlieb represented the Republic of Indonesia (Indonesia) in a €750 million and $750 million U.S. SEC-registered offering.
The transaction priced on June 11, 2019, and closed on June 18, 2019. The securities are listed on the Singapore Exchange Securities Trading Limited and the Frankfurt Stock Exchange. Cleary also represented Indonesia in establishing its U.S. SEC-registered shelf and the filing of its annual reports on Form 18-K.
Indonesia is one of the most frequent sovereign debt issuers in Asia. The transaction is its fourth bond offering using its U.S. SEC-registered shelf. The use of the shelf enabled it to take advantage of its recent sovereign rating upgrade and a conducive market backdrop to fund its 2019 financing needs.