14 May 2020
PT Hutama Karya (Persero)’s USD 600 million 3.75% Notes due 2030
Partner Putu Suryastuti from Assegaf Hamzah & Partners acted for Citigroup Global Markets Inc.; Deutsche Bank AG, Singapore Branch; The Hongkong and Shanghai Banking Corporation Limited; Mandiri Securities Pte. Ltd.; and MUFG Securities Asia Limited Singapore Branch (together, the “Joint Lead Managers”), as its Indonesian counsel in PT Hutama Karya (Persero)’s USD 600 million 3.75% Notes due 2030, which is a part of its USD 1.5 billion Medium Term Notes Programme. PT Hutama Karya (Persero) is Indonesia’s state-owned leading infrastructure developer and the transaction was the first ever sovereign guaranteed global notes issued by an Indonesian state-owned enterprise and was oversubscribed by 6x, evidencing the government’s support in the development of infrastructure in Indonesia.