Dentons HPRP is proud to act for PT Bank Negara Indonesia (Persero) Tbk (BNI), one of Indonesia’s largest state-owned banks, in the issuance of BNI Sustainability Bond Tranche I of 2025, valued at IDR 5 trillion (approximately USD 312.5 million). This issuance marks the first tranche of a Sustainable Bond Shelf Offering with a total target of IDR 15 trillion (USD 937.5 million), aimed at financing or refinancing projects with environmental and social benefits.

The transaction reflects BNI’s commitment to sustainable finance and aligns with its broader strategy to strengthen its green portfolio, support continued business growth, and refinance existing obligations. The bond is currently undergoing the registration process with the Financial Services Authority (OJK) and is expected to be listed on the Indonesia Stock Exchange (IDX) by 7 July 2025.

Dentons HPRP is advising on all Indonesian legal aspects of the transaction, including conducting legal due diligence on BNI, reviewing and negotiating the transaction documents, and updating the prospectus to ensure compliance with regulatory requirements. The firm is also providing legal guidance on matters related to OJK regulations for public offerings and listing procedures on the IDX.

The matter is led by Partner Erwin Kurnia Winenda, supported by Senior Associate Rafi Andiandra Wardhana and Associates Beatrix Deviana Mukin, Jovanka Lingkanaya, Yabunaya Salsabila Yuniar, Cindy Rahmatya Hadianti, and Rasha Fahmi Ubaidi. The team is working in close coordination with Dentons Rodyk & Davidson LLP and Dentons Hong Kong LLP, who are assisting with the due diligence process involving BNI’s overseas subsidiaries.

This engagement reinforces Dentons HPRP’s strong track record in capital markets and sustainable finance, and its role as a trusted legal advisor to major financial institutions in landmark and forward-looking transactions.

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