Issuance of the Republic of Indonesia GLobal Sukuk

AHP successfully represented Citigroup, Dubai Islamic Bank, HSBC, Mandiri Securities, and MUFG as Joint Lead Managers and Joint Bookrunners in the USD2.35 billion global Sukuk issuance by the Republic of Indonesia, through Perusahaan Penerbit SBSN Indonesia III. The Sukuk includes USD750 million 5-year, USD1 billion 10-year, and USD600 million 30-year (green) Reg S/144A Trust Certificates due 2029, 2034, and 2054 respectively (the “Global Sukuk”).

The issuance settled on 2 July 2024, and is listed on the Singapore Exchange and NASDAQ Dubai (dual listing).

The 30-year tranche is a green series, backed by Indonesia’s significant pool of green assets. This highlights the Indonesia’s commitment to green and sustainable financing in its long-term efforts to combat climate change.

Structured under the Shari’a principle of Wakala, the Global Sukuk has received approval from DSN MUI and the Sharia Committees of the Joint Lead Managers and Joint Bookrunners.

The AHP team, led by Renaldi Zulkarnain and supported by Aji Suryo and Bintang Setiadi Pratama, demonstrated AHP’s continued commitment to excellence in Shariah-compliant and sustainable financing transactions.

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