Republic of Indonesia $2 billion sovereign sukuk

Overview:

• The Republic of Indonesia has raised $2 billion in a sovereign sukuk (Islamic bond) from domestic and international investors.
• The 10-year bond drew orders for more than $6.8 billion and priced inside guidance to yield 4.235%, cutting through Indonesia's sukuk curve.
• The sukuk is the largest single tranche US dollar sukuk issued in Asia. In addition, the issuance marks the Republic's largest ever US dollar sukuk issuance.
• HSBC, JPMorgan, CIMB and Dubai Islamic Bank acted as lead arrangers on the deal.
• Assegaf Hamzah & Partners acted for the Republic of Indonesia. 
• Clifford Chance advised the lead arrangers.