Indonesia starts cash tender offers for eight series of global notes

Chicago, Sept. 13 – Republic of Indonesia started a tender offer for up to $1.25 billion of its global bonds, according to an announcement.

The maximum purchase price includes interest on the notes.

The republic is offering to buy from the following series of notes:

• The $2 billion outstanding 3¾% global bonds due April 25, 2022 (ISINs: USY20721BC22, US455780BK15) for $1,022 per note;

• The $1 billion outstanding 2.95% global bonds due Jan. 11, 2023 (ISINs: US455780CC89) for $1,035 per note;

• The $1.5 billion 3 3/8% global bonds due April 15, 2023 (ISINs: USY20721BD05, US455780BL97) for $1,048 per note;

• The $1 billion 5 3/8% global bonds due Oct. 17, 2023 (ISINs: USY20721BH19, US455780BP02) for $1,102.50 per note;

• The $2 billion 5 7/8% global bonds due Jan. 15, 2024 (ISINs: USY20721BJ74, US455780BQ84) for $1,124 per note;

• The $750 million 4.45% global bonds due Feb. 11, 2024 (ISIN: US455780CG93) for $1,092 per note;

• The $2 billion 4 1/8% global bonds due Jan. 15, 2025 (ISINs: USY20721BG36, US455780BT24) for $1,105.50 per note; and

• The $2.25 billion 4¾% global bonds due Jan. 8, 2026 (ISINs: USY20721BN86, US455780BV79) for $1,149 per note.

The offers are subject to proration.

Funding for the offers is expected to come from a sale by the republic of one or more series of bonds. The tender offer is conditioned upon the sale of the new notes.

The invitation expires at 5 p.m. ET on Sept. 17.

The republic will announce by 10 a.m. ET on Sept. 20 if the financing condition has been satisfied and the acceptance amounts.

Settlement is expected for Sept. 23.

Dealer managers for the offer are BofA Securities (888 292-0070, 646 855-8988, +44 20 7996 5420, DG.LM-EMEA@bofa.com), Citigroup Global Markets Inc. (+852 2501 2692, 212 723-0859, +44 20 7986 8969, liabilitymanagement.asia@citi.com), Credit Agricole CIB, Singapore Branch (+65 6535 4988, SGP-BR-DOA@ca-cib.com), HSBC Ltd. (+852 3941 0223, +44 20 7992 6237, 212 525-5552, liability.management@hsbcib.com) and UBS AG Singapore Branch (+65 6495 8623, ol-liabilitymanagement-sea@ubs.com).

The tender and information agent is Morrow Sodali Ltd. (+852 2319 4130, 203 609-4910, +44 20 4513 6933, RoI@investor.morrowsodali.com, https://bonds.morrowsodali.com/roi).

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