Widyawan & Partners, associated firm of Linklaters, advise on the sale of US$4b bonds, Inalum’s first ever US dollar bond deal, to fund majority shares in world’s largest gold mine

Linklaters formally associated firm, Widyawan & Partners, acted as legal counsel to joint lead bookrunners in respect of the sale of US$4b bonds by PT Indonesia Asahan Aluminium (Persero) (“Inalum”), state owned mining holding company, to fund its acquisition of a majority stake in PT Freeport Indonesia.

 

Sold in four tranches; US$1b of 3 year bonds at a yield of 5.23%, US$1.25b of 5 year bonds at a yield of 5.71%, US$1b of 10 year bonds at a yield of 6.53% and US$750m of 30 year bonds at a yield of 6.757%, this sale marks Inalum’s first ever US dollar bond deal.

 

Proceeds from the sale will be used to fund the acquisition of majority shares in PT Freeport Indonesia, an affiliate of US mining giant, Freeport McMoRan, who are concession holders of Grasberg, the world’s largest gold mine, located in the province of Papua in Indonesia.

 

The Widyawan & Partners team was led by partner, Adrian Pranata alongside counsel, Made Satwika and managing associate, Randy Irawan.