The Republic of Indonesia Invites Holders to Submit Offers to Sell Old Bonds for Cash

The Republic of Indonesia announced that it is inviting holders of certain bonds (see below) to submit offers to sell the Old Bonds to the Republic for cash.

The Republic set a spending limit of USD 1.25 billion (the “Maximum Cash Consideration”) for the aggregate purchase price and accrued interest on the Old Bonds purchased pursuant to the invitation. However, the Republic reserves the right to change the Maximum Cash Consideration at its sole discretion and to terminate the invitation for any reason.

The consideration for the Old Bonds tendered and accepted for purchase pursuant to the Invitation will be the fixed price outlined in the table above. In addition, the Republic will pay accrued and unpaid interest on the Old Bonds accepted for purchase up to (but not including) the Settlement Date (as defined below). The Republic intends to pay the aggregate purchase price of the Old Bonds and accrued interest and expenses to be borne by it in connection with the Invitation from the proceeds of a contemplated offering and sale by the Republic of one or more series of new bonds.

The invitation is subject to certain conditions, including the successful offering and sale of the New Bonds on terms and conditions acceptable to the Republic and collectively providing sufficient funds to pay the aggregate purchase price and accrued interest and expenses to be borne by the Republic.

The invitation expires at 5:00 p.m., New York City time, on Friday, September 17, 2021. This date can be extended or terminated earlier by the Republic. Holders of the Old Bonds will not have withdrawal rights from the invitation.

The Republic will announce whether the financing conditions have been satisfied no later than 10:00 a.m., New York City time, on Monday, September 20, 2021, or as soon as practicable thereafter. In case the invitation is consummated, the date on which the Republic pays for the Old Bonds being purchased under the invitation is expected to be Thursday, September 23, 2021, or as soon as practicable thereafter.

The information in this announcement is only a summary. You may download the invitation for offers at the invitation website.