White & Case and Linklaters head up Indonesia Govt's $1.75bn sovereign debt issue
White & Case and Linklaters are among a number of firms to have won roles on the Indonesian Government's $1.75bn (£1.1bn) sovereign debt issue on the Singapore Exchange, reports The Asian Lawyer. White & Case is advising on US law aspects of the issue. Jakarta-based Thamrin & Rachman Law Firm is providing Indonesian counsel to the issuer, with Allen & Gledhill - which is currently in talks over a tie-up with Allen & Overy - providing Singapore counsel.
January 11, 2012 at 06:46 AM
2 minute read
White & Case and Linklaters are among a number of firms to have won roles on the Indonesian Government's $1.75bn (£1.1bn) sovereign debt issue on the Singapore Exchange, reports The Asian Lawyer.
White & Case is advising on US law aspects of the issue. Jakarta-based Thamrin & Rachman Law Firm is providing Indonesian counsel to the issuer, with Allen & Gledhill – which is currently in talks over a tie-up with Allen & Overy – providing Singapore counsel.
White & Case previously acted as international counsel to the Indonesian Government in 2008 on a $2.2bn (£1.4bn) issue of 30-year sovereign bonds. The firm declined to comment on the latest deal.
Linklaters and Indonesian law firm Assegaf Hamzah & Partners are acting for the underwriters – HSBC, JP Morgan Securities, Standard Chartered, Merrill Lynch (Singapore) and Barclays – on US and Indonesian law respectively.
The Indonesian bonds, which are calculated to yield 5.375%, are targeted at investors from the US and Europe as well as Asia. According to the prospectus, the bond sale will help the Indonesian Government plug its budget deficit this year.
The bonds, which will mature in 2042, are part of a planned global medium-term note program that is projected to float $15bn (£9.7bn) in Indonesian sovereign debt.
The Asian Lawyer is a US affiliate title of Legal Week.
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