Linklaters advises on debut CNY 6bn dim sum bond issuance by Republic of Indonesia

Linklaters advised the joint lead managers on the inaugural global bond issuance denominated in Chinese Renminbi (CNY), also known as dim sum bonds, by the Republic of Indonesia (ROI). The CNY 6bn transaction was issued under the ROI’s SEC shelf-registered programme, marking its eighteenth successful global bond issuance in SEC format. 

This first dim sum bond issuance reinforces the ROI’s commitment to diversifying its funding sources and expanding its global investor base. The offering attracted strong investor interest, reaching an orderbook totalling CNY 18bn, underscoring the ROI’s credibility and consistent presence in the global debt capital markets.

The Linklaters team was led by partner and Head of South and Southeast Asia Capital Markets Amit Singh, supported by Xunming Lim.

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

“We are proud to have supported on this landmark transaction drawing on the firm’s deep cross-border capital markets expertise and longstanding relationship with the Republic of Indonesia. This debut dim sum bond issuance reflects the Republic’s continued innovation in accessing global capital markets, and highlights the growing importance of the offshore RMB market. It’s a privilege to be part of a deal that sets a precedent for sovereign issuers in Asia.”

Linklaters has a prominent reputation in the global and Asian capital markets, providing clients with practice expertise and commercial insights to capitalise on opportunities worldwide. With one of the largest teams focussed on Southeast Asia, the firm has worked on numerous high-profile and landmark transactions. The team has also previously advised on the ROI’s dual-currency global bond issuance and its inaugural A$800m Kangaroo bond issuance.