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White & Case has advised the Republic of Indonesia on its $2 billion sovereign sukuk, the largest single tranche US dollar sukuk issued in Asia, and the country’s largest-ever U.S. dollar sukuk issuance. Clifford Chance advised the lead arrangers.

The 144A/Reg S 10-year Islamic bond drew orders of more than $6.8 billion from a diverse group of domestic and international investors and priced inside guidance to yield 4.325 percent.

The Clifford Chance advising the lead arrangers HSBC, CIMB, J.P. Morgan and Dubai Islamic Bank, was jointly led by Dubai partner Qudeer Latif and Singapore partner Johannes Juette.

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