Clifford Chance, A&O Shearman, AZP, And Assegaf Hamzah Advised On Indonesia's $2.35B Global Sukuk Issue
Clifford Chance, A&O Shearman, AZP, And Assegaf Hamzah Advised On Indonesia's $2.35B Global Sukuk Issue
Clifford Chance, AZP Legal Consultants, A&O Shearman, and Assegaf Hamzah & Partners have collaborated on Indonesia’s USD2.35 billion global sukuk issuance.
The issuance, structured in three tranches, includes USD750 million five-year, USD1 billion one-year, and USD600 million 30-year green trust certificates maturing in 2029, 2034, and 2054 respectively. The 30-year green sukuk underscores Indonesia’s dedication to combating climate change through sustainable initiatives.
A sukuk is an Islamic financial certificate compliant with Sharia law, akin to a bond in Western finance.
Clifford Chance advised Indonesia on international aspects, led by Partners Gareth Deiner and Qudeer Latif from Dubai. New York Partners Jefferey LeMaster, Avrohom Gelber, and Paul Koppel provided Counsel on the Investment Company Act, US tax matters, and the Employee Retirement Income Security Act.
A&O Shearman represented the arrangers, dealers, and served as the listing agent, led by Partner Aloysius Tan.
AZP and Assegaf Hamzah & Partners provided Legal Counsel on Indonesian Law for the government, and the arrangers and dealers respectively, according to the SGX memorandum.
The trust certificates are dual-listed on the Singapore Exchange and Nasdaq Dubai. This transaction signifies Indonesia’s ongoing commitment to sustainable and green financing. Arrangers and dealers for this issuance include Citigroup, Dubai Islamic Bank, HSBC, Mandiri Securities, and MUFG.
