Indonesia in $1.5 Billion Debt Offering

Cleary Gottlieb represented the Republic of Indonesia in a Rule 144A/Reg. S offering of $1.5 billion in debt securities. Citigroup, Credit Suisse First Boston and Merrill Lynch were joint lead managers in the offering.

Demand for the bonds was strong, allowing the Republic to increase the size of the transaction from that planned. The Republic split the transaction between a $900 million tranche of ten-year bonds (matching the tenor of Indonesia’s other recent international offerings) and a $600 million tranche of 30-year bonds. The thirty-year bonds were the longest dated bonds yet issued by a sovereign in Asia ex-Japan.