Inside Indonesia’s first pandemic bond

Author: Karry Lai | Published: 12 May 2020

The Republic of Indonesia has issued the country’s first pandemic bond worth $4.3 billion to partially fund its Covid-19 relief and recovery efforts.Lawyers involved in the deal said that it was challenging as it had to close in a tight timeframe and everything was done virtually due to a wide range of travel bans and lockdowns. There was also uncertainty as to how best to market the deal as a social bond, as Indonesia’s Social Bond framework is not yet fully ICMA-compliant....