The Republic of Indonesia Announces Results of Its Invitation for Offers

JAKARTA, Indonesia, Sept. 20, 2021 /PRNewswire/ — The Republic of Indonesia (the “Republic“) is announcing the results of its invitation (the “Invitation“) to holders of certain series of its outstanding bonds (collectively, the “Old Bonds” and each, a “series” of Old Bonds) to submit offers (the “Offers“) to sell the Old Bonds to the Republic for cash in fixed prices. The Invitation was conducted pursuant to the terms and conditions described in the Invitation for Offers dated September 13, 2021 (the “Invitation for Offers“). The Invitation expired at 5:00 p.m., New York City time, on Friday, September 17, 2021. The table below sets forth, for each series of Old Bonds accepted for purchase, the principal amount accepted for purchase, the purchase price, and where applicable, the proration factor:

Old Bonds

Series

ISIN

CUSIP

Fixed Price (per U.S. $1,000 Principal Amount)

Principal Amount Accepted for Purchase

Proration Factor

3.750% Global Bonds due 2022

Regulation S

USY20721BC22

Y20721BC2

U.S.$1,022.00

U.S.$515,193,000

100%

Rule 144A

US455780BK15

455780BK1

2.950% Global Bonds due 2023

SEC-registered

US455780CC89

455780CC8

U.S.$1,035.00

U.S.$0

NA

3.375% Global Bonds due 2023

Regulation S

USY20721BD05

Y20721BD0

U.S.$1,048.00

U.S.$239,050,000

75.9%

Rule 144A

US455780BL97

455780BL9

5.375% Global Bonds due 2023

Regulation S

USY20721BH19

Y20721BH1

U.S.$1,102.50

U.S.$180,781,000

100%

Rule 144A

US455780BP02

455780BP0

5.875% Global Bonds due 2024

Regulation S

USY20721BJ74

Y20721BJ7

U.S.$1,124.00

U.S.$0

NA

Rule 144A

US455780BQ84

455780BQ8

4.450% Global Bonds due 2024

SEC-registered

US455780CG93

455780CG9

U.S.$1,092.00

U.S.$223,885,000

100%

4.125% Global Bonds due 2025

Regulation S

USY20721BG36

Y20721BG3

U.S.$1,105.50

U.S.$0

NA

Rule 144A

US455780BT24

455780BT2

4.750% Global Bonds due 2026

Regulation S

USY20721BN86

Y20721BN8

U.S.$1,149.00

U.S.$0

NA

Rule 144A

US455780BV79

455780BV7

Note:

“NA” means not applicable.

After review of all Offers submitted pursuant to the Invitation, the Republic has determined that the maximum cash consideration of U.S.$1.25 billion is not adequate to purchase all of the Old Bonds offered. Accordingly, the Republic has determined that it will apply the proration factors indicated in the “Proration Factor” column in the table above. Where proration applies with respect to an Offer of Old Bonds of a particular series, the principal amount of such Offer accepted in the Invitation has been determined by multiplying the principal amount specified in such Offer by the applicable proration factor and rounding the resulting amount down to the nearest US$1,000. If, after such adjustment and rounding, any holder would be left with an aggregate principal amount of less than the specified denomination of US$200,000 either (a) validly offered for sale and accepted; or (b) returned to a holder as a result of pro ration, the Republic has, in its sole and absolute discretion, accepted all of the Old Bonds the subject of such holder’s relevant Offer. Old Bonds not accepted for purchase by the Republic will be returned to the originating clearing system accounts as soon as practicable on the settlement date, in accordance with the normal procedures of the relevant clearing systems.

The date on which the Republic pays for the Old Bonds purchased pursuant to the Invitation is expected to be Thursday, September 23, 2021, New York City time, or as soon as practicable thereafter. The settlement of the purchase of Old Bonds in the Invitation is subject to certain conditions described in the Invitation for Offers. The Financing Condition defined in the Invitation for Offers has been satisfied.

This announcement is not an offer or a solicitation of offers. The Invitation is made solely by means of the Invitation for Offers. The Invitation does not constitute, and may not be used in connection with, an offer or solicitation by anyone in any jurisdiction where an offer or solicitation is not authorized or in which the person making such offer or solicitation is not qualified to do so or to any person to whom it is unlawful to make such offer or solicitation.

THE OFFEROR

Ministry of Finance of the Republic of Indonesia

Gedung Frans Seda, 2nd Floor

Jl. Dr. Wahidin No.1

Jakarta 10710

Indonesia


 

DEALER MANAGERS

 


BofA Securities, Inc.

Attention: Liability Management Group

One Bryant Park

New York, NY 10036

United States

Telephone (U.S. Toll Free): +1 (888) 292 0070

Telephone (U.S.): +1 646 855 8988

Telephone (London): +44 20 7996 5420

Email: [email protected]

Citigroup Global Markets Inc.

Attention: Debt Syndicate Desk / Liability Management Group

388 Greenwich Street

New York, NY 10013

United States

Telephone: +852 2501 2692/

+1 212 723-0859/

+44 20 7986 8969

Email: [email protected]

Crédit Agricole Corporate and
Investment Bank, Singapore Branch

Attention: Debt Origination & Advisory

168 Robinson Road

#23-00, Capital Tower

Singapore 068912

Telephone: +65 6535 4988

Email: [email protected] 

The Hongkong and Shanghai Banking Corporation Limited

Attention: Liability Management Group

Level 17, HSBC Main Building

1 Queen’s Road Central

Hong Kong

Telephone: +852 3941 0223 / +44 20 7992 6237 /

+1 212 525 5552

Email: [email protected]

 

UEmail: [email protected] BS AG Singapore Branch

Attention: Liability Management, SEA

9 Penang Road

Singapore 238459

Telephone: +65 6495 8623

Email: [email protected]

 

 

 


TENDER AND INFORMATION AGENT



Morrow Sodali Ltd


In Hong Kong:

Unit 23-106, LKF Tower

33 Wyndham Street, Central

Phone: +852 2319 4130

 

In Stamford:

470 West Ave., Suite 3000

Stamford, CT 06902

Telephone: +1 203 609 4910

 

In London:

103, Wigmore Street

W1U 1QS

Telephone: +44 20 4513 6933

 

Email: [email protected]

Invitation Website: https://bonds.morrowsodali.com/roi

SOURCE The Republic of Indonesia

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