Mayer Brown advises on the first Asia sovereign bond issuance in 2024

Mayer Brown represented the joint lead managers on a USD 2.05 billion three-tranche, SEC-registered global bond offering issued by the Republic of Indonesia.

The transaction comprised USD 500 million 4.400% bonds due 2029, USD 650 million 4.700% bonds due 2034, and USD 900 million 5.100% bonds due 2054.

The transaction is the first Asian sovereign bond issuance in 2024 and the Republic of Indonesia’s fourteenth successful SEC-registered US dollar transaction.

The banks involved are ANZ, BofA Securities, Deutsche Bank, Morgan Stanley and UBS as joint bookrunners, and PT BRI Danareksa Sekuritas and PT Trimegah Sekuritas Indonesia Tbk as co-managers of the global bond offering.

The Mayer Brown team was led by Corporate & Securities partners Thomas Kollar (Hong Kong) and Jason T. Elder (New York), and included associates Nicole Fulk and Anne Cai, and corporate finance officer Iris Gong (all Hong Kong).