Soemadipradja & Taher (S&T) is honoured to have advised the Government of Indonesia on its first-ever issuance of Australian dollar-denominated bonds (Kangaroo Bonds), totalling AUD 800 million. This milestone transaction comprised AUD 500 million 5-year notes and AUD 300 million 10-year notes under the Australian Medium-Term Notes (AMTN) program.

The offering attracted overwhelming global investor demand, generating an order book of approximately AUD 8 billion, ten times the issuance size. This reflects strong market confidence in Indonesia’s credit profile and underscores the strategic significance of the inaugural issuance.

This landmark issuance not only diversifies Indonesia’s funding sources for the 2025 State Budget but also deepens bilateral economic ties between Indonesia and Australia, while paving the way for future investment opportunities from the Australian market.

S&T’s Capital Markets team, led by Partner Emalia Achmadi with key contributions from Senior Associate Pratiwi and Associates Rahel Naomi and Indira Anjani, provided comprehensive legal support across all stages of the transaction, ensuring its seamless execution.

This successful deal underscores S&T’s solid track record in international capital markets and our continued commitment to supporting the Government of Indonesia in its international bond issuances.