Linklaters advises on Danantara Indonesia’s debut US$5bn global MTN programme and inaugural US$1.5bn bond issuance

Linklaters has advised the joint lead managers on the establishment of Danantara Indonesia’s debut US$5bn global medium-term note (MTN) programme and the inaugural US$1.5bn bond issuance through PT Danantara Investment Management (DIM).

Established in 2025, Danantara Indonesia is Indonesia’s strategic investment management institution, mandated to manage and optimise government investments and state-owned enterprise assets in support of Indonesia’s long-term economic transformation. DIM serves as its investment management arm.

The issuance comprises two tranches: US$750m 5-year notes and US$750m 10-year notes.

The transaction marks an important milestone in Danantara Indonesia’s access to international debt capital markets and broadens its funding channels through DIM. The issuance attracted a peak orderbook of approximately US$4.6bn, representing more than three times the final issuance size, with participation from global international institutional investors. 

The Linklaters team was led by capital markets partners Amit Singh and Xunming Lim, with support from managing associate Calvin Cheng.

Linklaters’ Head of South and Southeast Asia Capital Markets Amit Singh commented:

“We are grateful for the opportunity to support this landmark transaction for Danantara Indonesia. This transaction underlines our team’s proven track record of advising on complex, high-profile capital markets transactions across the region, combining technical capabilities with deep local insight.”

With more than 50 years of on-the-ground experience in Asia, Linklaters has a market-leading reputation in the region’s capital markets, providing clients with practical expertise and commercial insights to capitalise on opportunities. The team has one of the largest teams focussed on Southeast Asia and has advised on many of the region’s most high-profile and landmark transactions.