Soemadipradja & Taher is honoured to have been given the opportunity to advise the Republic of Indonesia on its debut issuance of Chinese Renminbi (CNH)-denominated global bonds (Dim Sum Bonds), valued at CNH 6 billion, under the Republic’s SEC Shelf-Registered Programme, with Bank of China, HSBC, and Standard Chartered Bank acting as the Joint Lead Managers on the transaction. This inaugural issuance marks a significant milestone as Indonesia enters the Dim Sum Bonds market for the first time.

The issuance comprised two series, namely a CNH 3.5 billion 5-year tranche with a coupon of 2.50% and a CNH 2.5 billion 10-year tranche with a coupon of 2.90%. The offering attracted strong interest from global investors, including onshore Chinese investors, generating an order book totalling CNH 18 billion.

The S&T Capital Markets team, led by Partner Emalia Achmadi with key contributions from Senior Associate Pratiwi and Associates Rahel Naomi and Indira Anjani, provided end-to-end legal support throughout the transaction, ensuring the smooth execution of this landmark deal.

This successful issuance further underscores S&T’s solid track record in international capital markets and highlights our continued role in supporting the Republic in its international bond issuances, having earlier this year successfully advised the Government of Indonesia on its Kangaroo Bonds issuance in Australia and its Samurai Bonds issuance in Japan.