Linklaters has advised PT Perusahaan Listrik Negara (Persero) (PLN), Indonesia’s state owned electric utility company, on its successful US$1.5bn senior unsecured bond issuance under Rule 144A/Regulation S.
The offering comprised two tranches: US$500m 4.75% notes due 2031 and US$1bn 5.45% notes due 2036. The issuance attracted strong investor demand across Asia, EMEA and the US, underscoring international investor confidence in PLN and Indonesia’s long term infrastructure strategy. Proceeds from the issuance will be used to accelerate electricity infrastructure development across Indonesia, specifically transmission, distribution, and non coal related generation projects.
The Linklaters team was led by Partner and Head of South and Southeast Asia Capital Markets Amit Singh, with support from associate Edward Lee.
Linklaters Head of South and Southeast Asia Capital Markets Amit Singh commented:
“We are delighted to support PLN on its return to the US dollar bond market. This strategically important transaction plays a critical role in advancing the next phase of Indonesia’s electricity infrastructure development. As we mark 50 years of on-ground presence in Asia, this deal reflects our long standing commitment to support our clients on their most significant and innovative transactions.”
Linklaters has a leading reputation in the Asia capital markets, providing clients with practice expertise and commercial insights to capitalise on opportunities. With one of the largest teams focussed on Southeast Asia, the firm has advised on some of the most high-profile and landmark transactions in the region.
