Linklaters advises on Bank Mandiri’s inaugural US$750m Additional Tier 1 capital securities issuance

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Aditi Raisurana
Communications & Corporate Affairs Manager, Asia 
+65 9235 8647
aditi.raisurana@linklaters.com

Linklaters has advised the joint lead managers on PT Bank Mandiri (Persero) Tbk’s inaugural issuance of US$750m Additional Tier 1 perpetual non-cumulative capital securities.

Bank Mandiri is one of Indonesia’s leading financial institutions, providing a range of banking and financial services to retail, corporate and institutional customers.

The securities represent Bank Mandiri’s first Additional Tier 1 capital securities issuance and make Bank Mandiri the second Indonesian bank to issue Additional Tier 1 capital securities internationally. The securities were offered under Regulation S and are listed on the Singapore Exchange Securities Trading Limited. The proceeds will be used to strengthen Bank Mandiri’s capital structure.

The Linklaters team was led by partner and Head of South and Southeast Asia Capital Markets Amit Singh and capital markets partner Xunming Lim, with support from managing associate Calvin Cheng and associate Putri Meisita Kusuma.

Linklaters’ partner Amit Singh commented:

“Asian issuers are increasingly looking to the international bond markets to meet their strategic funding and capital needs, with regional issuances continuing to come to the market. This transaction represents an important development for Indonesia’s bank capital market and could help broaden the path for future issuers. Congratulations to Bank Mandiri and all the parties involved!”

With more than 50 years of on-the-ground experience in Asia, Linklaters has a leading reputation in the region’s capital markets, providing clients with practice expertise and commercial insights to capitalise on opportunities. With one of the largest teams focused on Southeast Asia, the firm has advised on numerous high-profile and landmark transactions from Indonesia and the wider region.