International law firm DLA Piper advised Indonesia’s state-owned bank, Bank Mandiri, on its US$500 million bond offering. The five-year 4.75% senior unsecured notes were issued off the bank’s medium-term note programme, and were priced at 99.255 to yield 4.92%.
The issuance was oversubscribed almost five times, with demand from international investors reaching more than US$2.4 billion. The lead managers and bookrunners were CIMB, DBS Bank, Mandiri Securities, MUFG and Standard Chartered Bank.
The advisers to the issuers on the transaction were DLA Piper Singapore and Melli Darsa/PWC law. Clifford Chance Singapore and Assegaf Hamzah and Partners (AHP) in Jakarta counselled the arrangers.
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