Connect with us

Top Stories

CLIFFORD CHANCE ADVISES INDONESIAN GOVERNMENT ON THE FIRST EVER SOVEREIGN GREEN SUKUK

CLIFFORD CHANCE ADVISES INDONESIAN GOVERNMENT ON THE FIRST EVER SOVEREIGN GREEN SUKUK

Leading international law firm Clifford Chance has advised the Republic of Indonesia on the update of its US$25 billion trust certificates (sukuk) issuance programme and the issuance of a US$3 billion dual tranche sukuk (comprising 5-year “green” sukuk and 10-year sukuk). The transaction was the world’s first-ever sovereign green sukuk, and the first issuance under the Republic’s green bond and green sukuk framework.

The work with the Republic was led in Singapore by partner Johannes Juette, and in Dubai by partner Qudeer Latif, supported by Singapore senior associate ShashwatTewary, counsel Gareth Deiner, associate Cherrylene Lee and trainee Guo Kai Soo.

The firm advised the Republic of Indonesia on the United States and English law aspects of the programme and the issuances.

Johannes offers, “This transaction further strengthens the green bond credentials of our global network. We’re delighted to have been involved on Republic of Indonesia’s sukuk programme for the past four years.”

Clifford Chance holds a strong history in advising on firsts in this space, having advised on the international aspects of Garuda Indonesia’s US$500 million sukuk; the first-ever offshore US dollar offering by an Indonesian corporate issuer and the first sukuk issuance utilising the airline capacity structure in Asia. The team also advised the Republic of Indonesia on its issuance of approximately JPY100 billion (US$799 million) samurai bonds, one tranche guaranteed by JBIC and two tranches nonguaranteed. This was the first non-guaranteed samurai bond issued by the Government of Indonesia in over 30 years.

In 2016, Clifford Chance advised the joint lead managers on Bank of China Limited’s issuance of $500 million green covered bonds due 2019, the first ever sale of green covered bonds from a Chinese bank.

Editorial & Advertiser disclosure
Our website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate

Recommended

Newsletters with Secrets & Analysis. Subscribe Now