14 May 2020
Second issuance of the Euro Medium Term Notes programme by PT Bank Mandiri (Persero) Tbk
Partner Putu Suryastuti from Assegaf Hamzah & Partners acted for CIMB Bank Berhad, Labuan Offshore Branch; DBS Bank Ltd.; Mandiri Securities Pte. Ltd.; MUFG Securities Asia Limited; Standard Chartered Bank; (together, the “Dealers”), as its Indonesian counsel in the second issuance of the Euro Medium Term Notes programme by PT Bank Mandiri (Persero) Tbk., Indonesia’s largest state-owned bank. The notes were priced at USD 500 million 4.75% due 2025. This issuance marks the first ever global bonds issuance by an Indonesian bank since the start of the coronavirus pandemic and despite the current situation, it was oversubscribed by 4.8x, which shows the global market’s trust in Indonesian bank, particularly Indonesian state-owned bank.