K&L Gates has advised the Indonesian government on a $1.4 billion bond offering.
The Southeast Asian country issued its first euro-denominated bonds, selling seven-year notes through the Singapore and Frankfurt stock exchanges.
The cash raised will be used for Indonesia’s general financing requirements. According to Bloomberg, the country faces a fiscal deficit target of 2.4 percent of gross domestic product and therefore needs to sell a record amount of debt this year to bridge the gap.
Hong Kong partner David Johnson acted for Indonesia on the bond sale.
Linklaters Hong Kong partner David Ludwick advised lead managers Citigroup Global Markets Inc., Deutsche Bank AG and Merrill Lynch (Singapore) Pte. Ltd.