Cleary Gottlieb represented the Republic of Indonesia in a multi-tranche U.S. SEC-registered offering of $4 billion in debt securities.
The transaction priced on December 4, 2017, and closed on December 11, 2017. The securities are listed on the Singapore Exchange Securities Trading Limited and the Frankfurt Stock Exchange.
While the Republic of Indonesia is one of the most frequent sovereign debt issuers in Asia, this issuance was the Republic’s first U.S.-SEC registered offering in over 20 years. This important transaction enabled the Republic to further diversify and enlarge its investor base. This transaction enabled the Republic to pre-fund its 2018 budget requirements ahead of key market events and potential U.S. interest rate hikes. It also qualifies the Republic to setup an SEC-registered shelf for efficient future access to the markets.