Indonesia Successfully Issues USD2.75 Billion GLobal Sukuk

AHP successfully represented Deutsche Bank, Dubai Islamic Bank, J.P. Morgan, KFH Capital, and Standard Chartered Bank as Joint Lead Managers and Joint Bookrunners in the issuance of the USD2.75 billion global Sukuk comprising of USD1.1 billion 5.5-year, USD900 million 10-year, and USD750 million 30-year Reg S/144A due 2030, 2034 and 2054 respectively (the “Global Sukuk”) by the Republic of Indonesia (“Republic”), through Perusahaan Penerbit SBSN Indonesia III.

This marks the fourth issuance by the Republic in the global bond market in USD currency during 2024 and also demonstrates the continued high interest of investors in government bond issuances.

The issuance of the Global Sukuk has settled on 25 November 2024 and listed on Singapore Exchange Securities Trading Limited and NASDAQ Dubai (dual listing).

The Global Sukuk is structured based on the Shari’a principle of Wakala and has obtained approval from DSN MUI as well as from the Joint Lead Managers and Joint Bookrunners’ respective Sharia Committee.

The AHP team was led by M. Renaldi Zulkarnain and supported by Aji Suryo Utomo and Bintang Setiadi Pratama. This transaction demonstrates AHP’s continued commitment to excellence in shariah financing transactions.

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