Firms To Watch: Banking and finance

Walalangi & Partners in association with Nishimura & Asahi’s areas of expertise include restructuring, asset acquisition financing, and regulatory.

Banking and finance in Indonesia

ABNR Counsellors at Law

ABNR Counsellors at Law is well-regarded in the market for offshore and onshore financings, including domestic and cross-border syndicated and bilateral lending transactions, and leveraged and acquisition finance. The firm is active in the projects and infrastructure sector, advising on public-private partnership (PPP) projects and project finance initiatives (PFIs), and handles loan restructuring and Islamic finance matters. The team is headed by Emir Nurmansyah, who has over 30 years’ experience in the sector and has particular expertise in the financing of large power projects. Elsie Hakim is a name to note for M&A, regulatory and compliance issues in the banking and finance sector, while Nurdin Adiwibowo stands out for his knowledge of foreign direct investment (FDI) and aviation finance. Giffy Pardede is another name for project finance and counts domestic state-owned banks and international lenders among his clientele; he has handled deals in the oil and gas, financial services, manufacturing, healthcare and automotive sectors, among others.

Practice head(s):

Emir Nurmansyah

Other key lawyers:

Elsie Hakim; Giffy Pardede; Nurdin Adiwibowo

Ginting & Reksodiputro in association with Allen & Overy

The banking and finance team at Ginting & Reksodiputro in association with Allen & Overy is well respected for its broad expertise, which includes leveraged and acquisition financing, and general lending (both syndicated and bilateral), among other financing and restructuring matters. It is well equipped to deal with cross-border deals with the ability to advise on Indonesian, Singapore, US, and English law under one roof. The team is jointly led by Daniel Ginting and Tarsis Halintar; Ginting is well known and regarded in the Indonesian market and offers expertise in structured finance transactions, acquisition financing and project development among other areas; Halintar acts for a range of foreign and domestic lenders and sponsors on transactional and restructuring matters. At the more junior end of the team, counsels Cindy Riswantyo and Desi Dwitiasrini are both recommended for corporate and acquisition finance.

Practice head(s):

Daniel Ginting; Tarsis Halintar

Other key lawyers:

Desi Dwitiasrini; Cindy Riswantyo

Key clients

PT Bank Negara Indonesia (Persero) Tbk

PT Bank Mandiri (Persero) Tbk

PT Bank UOB Indonesia

PT Perushaan Pengelola Aset (Persero)

Work highlights

  • Advised the mandated lead arrangers and bookrunners on a $1.5bn financing to Indonesia Asahan Aluminium, an Indonesian state-owned metals and mining enterprise.
  • Advised Bank Mandiri, Bank Negara Indonesia and Bank UOB Indonesia as lenders on a $495m refinancing facility to PT Pancara Amara Utama.
  • Advised PPA on its purchase of non-performing financing from Bank Muamalat Indonesia.

Hadiputranto, Hadinoto & Partners, a member firm of Baker McKenzie

Hadiputranto, Hadinoto & Partners, a member firm of Baker McKenzie offers clients ‘a very broad knowledge of banking and finance transactions’, and advises on the full range of financial products, compliance and regulatory matters, as well as M&A within the sector. On a more granular level, the practice handles bilateral and syndicated loans, structured and project finance, acquisition finance, Islamic finance, and derivatives and securitisation. Practice head Erwandi Hendarta, a former investment banker and banking regulator, offers cross-disciplinary advice on M&A, and financing transactions, and has recently seen an uptick in fintech work. Another key practitioner is Indri Pramitaswari (Mita) Guritno, who focuses on financing and debt restructuring matters.

Practice head(s):

Erwandi Hendarta

Other key lawyers:

Indri Pramitaswari (Mita) Guritno


‘The HHP Law Firm team have very broad knowledge of banking and finance transactions.’

‘Usually, we are assisted by some regular individuals who work closely with the transactions to maintain the consistency and continuity of corporate positioning, as well as some new individuals to give some fresh air to the projects.’

‘One of the most stand-out partners is Indri Pramitaswari (“Mita”) Guritno, who has supported us in so many transactions and is able to deliver her works brilliantly.’

Key clients

Bank Permata


BNI (Persero) Tbk.

Cooperatieve Rabobank UA

Credit Suisse

Elang Mahkota Teknologi Tbk

FinAccel Pte Ltd

Lembaga Pembiayaan Ekspor Indonesia (Indonesia Eximbank)


PT Astra International Tbk

PT Bank Mandiri (Persero) Tbk

PT Bank Negara Indonesia (Persero) Tbk

PT Bank Rakyat Indonesia (Persero) Tbk

PT Perkebunan Nusantara III and its subsidiaries (“PTPN Group”)

PT Perusahaan Listrik Negara (Persero)

Sea Group (Singapore)

Standard Chartered Bank

United Overseas Bank Limited

Work highlights

  • Represented a prominent media and digital conglomerate, Elang Mahkota Teknologi Tbk (through its direct subsidiary, Elang Media Visitama) (“EMTEK”) on its acquisition of 93% shares of Bank Fama International (“Bank Fama”) for around $65m.
  • Represented a prominent financial technology company, FinAccel Pte Ltd (through its direct subsidiary, PT FinAccel Teknologi Indonesia, in its three-tranche acquisition of up to 75% shares of Bank Bisnis International Tbk (“Bank Bisnis”) for around $195m.
  • Represented Funding Asia Group Pte Ltd (“FAG”), the owner of P2P lending platform named Modalku, on its investment as a strategic investor in PT Bank Index Selindo (“Bank Index”).

Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills

The banking and finance team at Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills is led by Tjahjadi Bunjamin and Adrianus Adritomo, and leans on its global network for support on cross-border transactions, which it handles on a regular basis. Key areas of strength for the practice include financial services regulation, foreign investment, project finance and fintech matters. Bunjamin is a founding partner of the firm and acts for multinational financial institutions and leading domestic companies on cross-border financing transactions and capital markets matters. Adritomo is a key name for financing matters and deals with project financing, debt restructuring, bilateral, club or syndicated loans and acquisition financing among other areas.

Practice head(s):

Tjahjadi Bunjamin; Adrianus (Tommy) Adritomo

Other key lawyers:

Giovanna Nicky


‘HBT law firm has good quality in terms of responsiveness, is up to date with the common issues, and uses advanced IT infrastructure.’

‘HBT Law firm treats customers with an impactful mindset where the best output and outcome come first during the services.’

‘Shared values between the individuals include tenacity, reliability as well as professionalism during the work.’

‘The individuals also represent digital savviness when serving the client’s needs.’

Key clients

AKA Ausfuhrkredit-Gesellschaft mbH


Bank Mandiri (Persero) Tbk.

Barclays AG

Credit Suisse

DBS Bank Ltd.

Deutsche Bank AG

Indonesia Eximbank


JP Morgan

Korea Development Bank

Landesbank Baden-Württemberg (LBBW)

Oversea-Chinese Banking Corporation Limited (OCBC)

Work highlights

  • Advised the creditors of PT Bumi Resources Tbk on the financial restructuring of its existing Mandatory Convertible Bonds through a private placement and series C fundraising, with a total value of $590m.
  • Advised ANZ, DBS, ING, Morgan Stanley, MUFG and Standard Chartered in a $450m financing facility to Medco Energi for its acquisition of ConocoPhillips Indonesia.
  • Advised Bank Mandiri on its $890m financing to PT Obsidian Stainless Steel in working capital for its nickel smelting and stainless steel manufacturing business.

Oentoeng Suria & Partners in association with Ashurst

Oentoeng Suria & Partners in association with Ashurst’s banking and finance team advises clients on a range of financing and restructuring transactions and is well known in the market for handling high-value project finance deals. Leaning on Ashurst LLP’s international network for support, the firm is well placed to handle cross-border matters for private equity groups, international banks and leading Chinese lenders. Practice head Rizaldy Tauhid advises sponsors and lenders on the financing of large infrastructure projects. Also providing support on project finance deals is Frédéric Draps, who is a registered foreign legal consultant.

Practice head(s):

Rizaldy Tauhid

Other key lawyers:

Frédéric Draps

Key clients

China Development Bank

China Construction Bank

Bank of China


DBS Bank Ltd

Indonesia Eximbank

China Eximbank



Societe Generale

PT Bank Mandiri (Persero) Tbk

PT Bank BTPN Tbk

PT Bank Negara Indonesia (Persero) Tbk

PT Pertamina Hulu Energi

PT Bank Central Asia Tbk

PT Sarana Multi Infrastruktur (Persero)

PT Halmahera Jaya Feronikel

PT Halmahera Persada Lygend

PT Indonesia Infrastructure Finance

Work highlights

  • Advising China Development Bank on the $4.5bn project financing for the development of the Jakarta-Bandung High Speed Rail Project.
  • Advising a group of Indonesian banking and financial institutions on a loan restructuring transaction in relation to IDR 45 trillion ($3.1bn) of bad debt owed by PT Perkebunan Nusantara III and its subsidiaries (“PTPN Group”) to a number of lenders.

Widyawan & Partners

The team at Widyawan & Partners is led by Adrian Pranata and David Holme and handles the full range of banking and finance matters, including corporate finance, structured finance, project finance, debt restructuring, distressed debt acquisitions, acquisition finance and leveraged finance. Pranata acts for large international banks and alternative credit providers in the Indonesian market and is no stranger to large cross-border financing matters; he is also a well-known capital markets practitioner. Frans Sihasale recently joined the firm as managing associate from Hadiputranto, Hadinoto & Partners, a member firm of Baker McKenzie and is experienced in cross-border finance transacitons for both lenders and borrowers.

Practice head(s):

Adrian Pranata; David Holme

Other key lawyers:

Frans Sihasale


‘Very strong knowledge of the Indonesian credit and restructuring landscape.’

‘Adrian Pranata is excellent all round.’

‘Gave practical and prompt advice with strong execution ability.’

Key clients

Deutsche Bank

Credit Suisse


DBS Bank


Bank Mandiri

Bank Central Asia

PT Indonesia Asahan Aluminium (persero)

PT Centratama Telekomunikasi Tbk

Work highlights

  • Advised PT Centratama Telekomunikasi Tbk and its subsidiaries in relation to a $850m equivalent syndicated financing for the purpose of financing the acquisition of shares in PT EPID Menara AssetCo, a major telecommunication tower provider in Indonesia.
  • Advised the syndicated banks on the high-profile cross-border restructuring initiated by PT Pan Brothers Tbk and its related entities.
  • Advised PT Indonesia Asahan Aluminium (Persero) (“MIND ID”) as borrower in relation to an up to $1.5bn facility.

Witara Cakra Advocates (WCA) in exclusive association with White & Case LLP Indonesia

The ‘diligent, detailed and communicative’ team at Witara Cakra Advocates (WCA) in exclusive association with White & Case LLP Indonesia is led by Fajar Ramadhan and acts for lenders, underwriters and arrangers on secured loan and structured finance transactions. Project finance is a key strength for the practice, where it advises large international and domestic energy and natural resources companies on the financing of new projects. Ramadhan has considerable experience in debt restructurings, project finance, security structures and enforcement, as well as international bond offerings, while at the more junior end of the team, senior associate Yoshivan Immanuel is a name for debt finance work.

Practice head(s):

Fajar Ramadhan

Other key lawyers:

Yoshivan Immanuel


‘White & Case (Indonesia) is the lawyer who is capable of advising us on the best structure for our investment project, able to perform due diligent works efficiently, reliably and resourcefully.’

‘They are very knowledgeable about structured financing, securities and collateral documentations.’

‘Fast response and can work well with foreign law firms on foreign law documentation.’

‘We have established a long-term relationship with them and they are familiar with our needs which saves our time.’

‘The team understood our strengths and weaknesses, and they can provide neutral advice that is safe for the client.’

‘Diligent, detailed, communicative, with excellent knowledge.’

Key clients

Asian Infrastructure Investment Bank

Credit Suisse AG

Deutsche Bank AG

HSBC Corporation Limited

ING Bank N.V.

MUFG Bank Ltd.



PT Bank Mandiri (Persero) Tbk.

Standard Chartered Bank

Work highlights

  • Advised MUFG Bank, Ltd., as security agent to various lenders on an up to $1bn facilities to APRIL International Enterprise Pte. Ltd, one of the company of APRIL Group.
  • Advised senior lenders, export credit agencies, providers and/or arrangers of debt finance to PT Satelit Nusantara Tiga for an up to $432m financing for the PPP Satellite Infrastructure Project.
  • Advised arrangers and lenders in a financing granted to PT EPID Menara Assetco (an Asia-focused towers business sponsored by the $25bn infrastructure investor, Digital Colony) for the acquisition of 4,247 towers from Indosat with an aggregate amount of up to $350m.

Assegaf Hamzah & Partners

Assegaf Hamzah & Partners is part of the Rajah & Tann Singapore LLP Asia network and as such, is well placed to handle regional deals. The banking, finance and projects team advises on structured finance transactions, from simple secured or unsecured bilateral lending, through to multifaceted credit facilities. The team is also strong in the fintech arena, where it advises clients on regulatory and industry-related matters. Practice head Ibrahim Sjarief Assegaf counts foreign and domestic financial institutions, borrowers and sponsors among his clientele and is recommended for project finance work. Ahmad Fikri Assegaf is a co-founder of the firm and has notable experience in M&A, finance and Shariah finance issues; and Indira Yustikania is recommended for regulatory and transactional matters, with a focus on the fintech sector. Harun Ngantung and Tracy Tania were recently promoted to partner.

Practice head(s):

Ibrahim Sjarief Assegaf

Other key lawyers:

Ahmad Fikri Assegaf; Indira Yustikania; Kanya Satwika; Tracy Tania; Harun Ngantung


‘The firm has a deep bench strength and the team offers pragmatic solutions to legal issues raised.’

‘Kanya Satwika is an excellent lawyer. She is commercial and pragmatic, and deeply knowledgeable.’

Key clients

ABN Amro Bank N.V., Singapore Branch

Abu Dhabi Commercial Bank PJSC

Asian Development Bank

Bangkok Bank Public Company Limited

CIMB Bank, Singapore

Credit Suisse Group AG

DBS Bank, Singapore

JPMorgan Chase & Co.

Overseas-Chinese Banking Corporation Ltd

PT Bank Artos Indonesia Tbk.

PT Bank BTPN Tbk.

PT Bank Central Asia Tbk.

PT Bank CIMB Niaga Tbk.

PT Bank Danamon Indonesia Tbk.

PT Bank DBS Indonesia

PT Bank Mandiri (Persero) Tbk.

PT Bank Maybank Indonesia Tbk.

PT Bank Muamalat Indonesia Tbk.

PT Bank Rakyat Indonesia (Persero) Tbk.

PT Bizcoal Indonesia

PT Indo Raya Tenaga

PT Indonesia Infrastructure Finance

PT Lippo Karawaci Tbk.

PT Mandiri Sekuritas

PT Medco Energi Internasional Tbk.

PT Merdeka Copper Gold Tbk.

PT Metamorfosis Ekosistem Indonesia

PT Pasifik Satelit Nusantara

PT Pembangkitan Jawa Bali Masdar Solar Energi

Star Energy Geothermal Group

Wealth Track Technology

Work highlights

  • Assisted a syndicate of state-owned banks in a project financing deal for the development of infrastructure in the Mandalika Special Economic Zone.
  • Acted as lead counsel to The Haji Financial Management Agency (Badan Pengelola Keuangan Haji – “BPKH”) on the acquisition of PT Bank Muamalat Indonesia Tbk.
  • Advising PT Alim Investindo and the other selling shareholders in the sale of 28.4% of their shares in PT Bank Maspion Indonesia Tbk to Kasikorn bank Public Company Limited from Thailand.

Makarim & Taira S.

Very strong on borrower-side project financing in Indonesia’, the banking and finance team at Makarim & Taira S. acts for both lenders and borrowers, domestic and international banks, financial institutions, and export credit agencies on a range of financial transactions. In addition to its core strengths in aviation finance, Islamic finance and project finance, the practice is increasingly active in the fintech space and continues to provide financial services regulatory expertise to clients. Maria Sagrado jointly leads the team alongside Frederick Simanjuntak, with Sagrado recommended for foreign investment work and Simanjuntak handling syndicated lending and project finance. Stephanie Kandou was promoted to partner in February 2022.

Practice head(s):

Maria Sagrado; Frederick Simanjuntak

Other key lawyers:

Stephanie Kandou


‘The Makarim team is very strong on borrower-side project financing in Indonesia.’

‘They are very clear in their advice (in what is a very tricky jurisdiction).’

‘They are always timely in their advice and resource their matters appropriately.’

‘They are one of the best Indonesian local counsels for major, international, complex project financings.’

‘Each member takes time to understand the client’s issues and provides very clear advice addressing the issue and providing commercial solutions on Indonesian matters.’

Key clients

PT Freeport Indonesia

UOB Kay Hian Credit Pte. Ltd (Singapore), PT Bank UOB Indonesia

APIS General Partners LLP

DZ BANK AG Deutsche Zentral-Genossenschaftsbank Frankfurt am Main

Coda Payment

PT JCB International Indonesia (JCBIIDN)

GE Healthcare

Bank of America


Latham & Watkins LLP

Work highlights

  • Assisted PT Freeport Indonesia on a $1bn loan facility.
  • Assisted UOB Kay Hian Credit Pte. Ltd. (Singapore) and PT Bank UOB Indonesia on an IDR 1,824,260,423,228 loan facility to PT Bakrie Kalila Investment.
  • Assisted a Chinese State-Owned Bank on a $150m Term Facility Agreement with an Indonesian company engaged in power generation.

TNB & Partners in association with Norton Rose Fulbright

TNB & Partners in association with Norton Rose Fulbright handles a large amount of local counsel work for its affiliate firm Norton Rose Fulbright and acts for multinational lenders and large corporations on cross-border banking and finance transactions and regulatory matters. Tasdikiah Siregar heads the practice with over 20 years’ experience in transactional debt finance work and M&A. At the more junior end of the team, associates Wira Saputra and Merlyn Margaretha are recommended, with Saputra a name to note for litigation, and Margaretha offering regulatory expertise.

Practice head(s):

Tasdikiah Siregar

Other key lawyers:

Wira Saputra; Merlyn Margaretha

Key clients

Bangkok Bank Public Company Limited

Sumitomo Mitsui Banking Corporation

ING Bank N.V.

Barclays Bank Plc

Aminvestment Bank Berhad

Japan International Cooperation Agency

Citibank N.A.

PT Bank Central Asia Tbk

Work highlights

  • Assisted Aminvestment Bank Berhad as facility agent for a number of financiers in a restructuring of financing to Weststar Aviation Services Sdn. Bhd. relating to several aircraft, a number of which were leased to PT Weststar Aviation Indonesia.
  • Advising Japan International Cooperation Agency, Citibank (Tokyo, Singapore and Jakarta), PT Bank Central Asia Tbk on two concurrent unsecured financings, each in Japanese Yen and Indonesian Rupiah, to PT Bank Tabungan Negara (Persero) Tbk.
  • Assisted Bangkok Bank Public Company Limited in a $440m financing for the purpose of the acquisition of Star Energy, a geothermal energy company.

Hanafiah Ponggawa & Partners – Dentons HPRP

The banking and finance team at Hanafiah Ponggawa & Partners – Dentons HPRP is led by Chadri Jurnalis, Fabiola Hutagalung, Erwin Kurnia Winenda and Michael Kaihatu and advises banks and financial institutions on a range of transactional issues. The firm leans on Dentons’ global network for support on cross-border matters.

Practice head(s):

Chadri Jurnalis; Fabiola Hutagalung; Erwin Kurnia Winenda; Michael Kaihatu

Key clients

PT Bank Neo Commerce Tbk. (“BBYB”)

PT Bank Fama International

PT Timas Oceanstar Indonesia

Lending Ark

Onstar Express Pte. Ltd.

Accial Capital Management LLC

RHB Bank Berhad



Apple Bank and PT DSH

Work highlights

  • Avised PT Timas Oceanstar Indonesia on the replacement of a Singaporean lender with Indonesian lender for loan of up to $85m at the last moment.
  • Advised Lending Ark and CLSA Capital Partners on $20m of financing for a P2P lending platform.
  • Assisted PT Bank Neo Commerce Tbk. (“BBYB”) in the issuance of new shares to its shareholders (right issue) witha value of around $173m.

Makes & Partners

Makes & Partners is well known in the Indonesian market for corporate finance work; it mainly acts for borrower clients but also caters to lenders on a range of transactional issues. The firm has good connections with government and regulatory authorities which enables it to conduct merger transactions with ease. The team is jointly led by Yozua Makes and Fransisca S.H.; Fransisca is recommended for M&A, banking and finance matters, and restructuring and insolvency.

Practice head(s):

Yozua Makes; Fransisca S.H.

Key clients

PT Bank BTPN Tbk

PT Gajah Tunggal Tbk

PT JTD Jaya Pratama

PT Multipolar Tbk

PT Estika Tata Tiara Tbk

Kohlberg Kravis Roberts & Co. (KKR)

PT Surya Semesta Internusa Tbk.

SC Capital Partners Group

Lippo Malls Indonesia Retail Trust (LMIRT) Management Ltd.

PT Mohgatech Indonesia

PT Agung Podomoro Land Tbk

PT Bundamedik Tbk

Work highlights

  • Advised PT Plaza Indonesia (“PII”) in connection with the proposed syndication of PII and PT Plaza Indonesia Realty Tbk. in the aggregate principal amount of up to $265m and the accordion facility in the amount of up to $35m.
  • Advised PT Mandiri Cipta Gemilang in the funding of a sale and purchase of strata titles with a total area of of 175,146.44 m2 within Lippo Mall Puri by MCG (a wholly owned subsidiary of PT Lippo Karawaci Tbk) through a combination of debt financing of up to SGD120m and rights issue exercise that raised gross proceeds of SG$281m.
  • Advised PT Gajah Tunggal Tbk in its issuance of a new credit facility with a tenor of 7 years from a syndication of banks in Rupiah denomination in the amount of IDR1,325,000,000,000.

SSEK Law Firm

SSEK Law Firm acts for multinational corporations and large international banks on banking M&A, debt restructurings, project finance and insurance work, as well as general day-to-day advice. It has recently been handling a number of financings for mining and plantation projects, and regulatory matters for large financial services companies. Ira Eddymurthy heads the team and focuses on foreign investments, while Winnie Rolindrawan specialises in the burgeoning areas of e-money, payment gateways, and fintech. Fahrul Yusuf left for EY Law in January 2022.

Practice head(s):

Ira Eddymurthy

Other key lawyers:

Michael Carl; Winnie Rolindrawan

Key clients

Bank Index

PT Danareksa (Persero)



Western Union


SoftBank Vision Fund


Ping An Puhui

Work highlights

  • Acted for Jakarta-based Bank Index and its majority shareholders in a share subscription transaction with Funding Asia Group Pte. Ltd. and Trusty Cars Pte. Ltd., a transaction undertaken to transform Bank Index into a digital bank.
  • Assisted PT Danareksa (Persero), an Indonesian state-owned enterprise engaged in financial services, in becoming established as a Holding State-Owned Enterprise (Holding Danareksa).
  • Advised Trafigura Asia Trading Pte. Ltd., a leading global independent commodity trading and logistics house, on the provision of a loan facility to PT Growth Java Industry, a nickel pig iron producer in Indonesia.

UMBRA – Strategic Legal Solutions

UMBRA – Strategic Legal Solutions continues to gain traction in the market, with a focus on high-profile and high-value project financing transactions, and additional strength in regulatory and compliance matters; it has strong relationships with financial regulators, provides corporate governance advice to financial institutions, and has recently handled a number of trasncations in the fintech space. Putu Raditya Nugraha and Kirana Sastrawijaya co-head the team, with Nugraha recommended for debt restructuring and M&A, and Sastrawijaya handling transactions in the power, energy, construction and infrastructure sectors.

Practice head(s):

Putu Raditya Nugraha; Kirana Sastrawijaya

Key clients

PT Bank Mandiri (Persero) Tbk

PT Bank Danamon Indonesia Tbk

PT Bank Tabungan Negara (Persero) Tbk

PT Bank ICBC Indonesia

Indonesia Eximbank

PT Caterpillar Finance Indonesia

PT Visionet Internasional (OVO)

PT Indonesia Infrastructure Finance

Euronet Worldwide, Inc

Impact Credit Solution, Pte. Ltd.

PT Sarana Multi Infrastruktur (Persero)

Perusahaan Perseroan PT Bahana Pembinaan Usaha Indonesia (Indonesia Financial Group)

PT Bahana Artha Ventura

PT Celebes Railway Indonesia

Lendable Asset Management LLC

PT Pertamina EP Cepu

Exness B.V.

PT Rekeningku Dotcom Indonesia

PT Equinix Indonesia JKT

Work highlights

  • Asdvised the borrower in relation to $2.7bn project financing of Jawa 9-10 2×1000 MW Power Plant.
  • Representing PT Celebes Railway Indonesia, Indonesia Infrastructure Finance, PT Sarana Multi Infrastruktur (Persero) and PT Bank Syariah Indonesia Tbk. on conventional and Shari’a (Musharakah Mutanaqisah) facility agreements to fund the Makassar – Parepare, Railway project.
  • Representing PT Geo Dipa Energi (Persero) (GDE) as the borrower in a corporate financing by Asian Development Bank (ADB). ADB has agreed to provide two different types of loans, i.e. Ordinary Capital Resources (with the value of $300m) and Clean Technology Fund (with the value of $35m).

Adnan Kelana Haryanto & Hermanto (AKHH)

Adnan Kelana Haryanto & Hermanto (AKHH) advises foreign and domestic banks and financial institutions on transactional and regulatory matters. Its transactional work encompasses corporate, acquisition, project, trade and asset finance transactions, and the team is jointly led by Andy Kelana and Helena Adnan.

Practice head(s):

Andy Kelana; Helena Adnan

Key clients

EFA Group

EFA RET Management Pte. Ltd.

EFA Real Economy Income Trust

Dagang Net Technologies Sdn Bhd

PT Dagang Samudera Hutama

PT Dnex Telco Indonesia

Hoegh LNG Limited

Barclays Bank PLC, Singapore Branch

BNP Paribas

Crédit Agricole Corporate and Investment Bank, Singapore Branch

DBS Bank Ltd

The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch

Oversea-Chinese Banking Corporation Limited

Australia and New Zealand Banking Group Limited

CIMB Bank Berhad, Labuan Offshore Branch

Mizuho Securities Asia Limited

MUFG Securities Asia Limited, Singapore Branch

SMBC Nikko Capital Markets Limited

United Overseas Bank Limited

Work highlights

  • Advised consortium of banks as initial purchasers of 2.80% Senior Unsecured Notes with an aggregate value of $400m.
  • Advised members of Dagang NeXchage Berhad group of companies in relation to a release of securities issued in relation to the acquisition of a cable-laying vessel.
  • Advised members of the Samling group on a musyarakah muthanaqisah in a total amount of up to IDR200 billion from Bank CIMB.

Hendra Soenardi

Hendra Soenardi mainly acts for borrowers and has considerable experience in finance transactions, restructuring, project finance and related corporate and disputes matters. The team is jointly led by Oscar Damarjati, recently promoted partner Raisa Rinaldi and senior associate Victor Tanojo.

Practice head(s):

Oscar Damarjati; Raisa Rinaldi; Victor Tanojo

Work highlights

  • Represented PT Adaro Indonesia as the borrower and PT Adaro Energy Indonesia Tbk as the guarantor in $400m facility from a group of international lenders.
  • Represented PT Bukit Makmur Mandiri Utama as the borrower in $350m facility from PT Bank Mandiri (Persero) Tbk.
  • Represented PT Adaro Power as the borrower and PT Adaro Energy Indonesia Tbk as the guarantor in $120m facility from international and local lenders.

IABF Law Firm (IABF)

IABF Law Firm (IABF) advises clients across a range of industries on compliance and regulatory matters, restructurings, transactions and day-to-day operational matters. Ivan Ferdiansyah Baely heads the team and is recommended for debt restructuring, M&A, and bankruptcy work.

Practice head(s):

Ivan Ferdiansyah Baely

Key clients

PT Aviasi Pariwisata Indonesia (Persero)

PT Len Industri (Persero)

PT Aviasi Pariwisata Indonesia (Persero)

Chailease International Financial Services (Singapore) Pte. Ltd.

Chailease International Financial Services Co. Ltd.

PT Sinergi Komunitas Indonesia

Work highlights

  • Representing PT Aviasi Pariwisata Indonesia (Persero) in applying for State Equity Participation (Penyertaan Modal Negara or PMN) to be distributed to its holding members, which includes PT Pengembangan Pariwisata Indonesia (Persero), PT Angkasa Pura 1 (Persero) dan PT Sarinah (Persero).
  • Representing PT Len Industri (Persero), a state-owned company engaged in communication equipment and infrastructure in relation to its IDR1,100,000,000,000 or equal to approximately $78.6m loan restructuring from PT Bank Negara Indonesia (Persero) Tbk and PT Bank Mandiri (Persero) Tbk.
  • Representing PT Aviasi Pariwisata Indonesia (Persero), a state-owned holding company in aviation and tourism in relation to IDR500,000,000,000 or equal to approximately $35.7m loan facility provided by PT Bank Tabungan Negara (Persero) Tbk to PT Aviasi Pariwisata Indonesia.

Roosdiono & Partners (a member firm of the KPMG Law network)

Roosdiono & Partners (a member firm of the KPMG Law network) handles cross-border financing and loan restructuring work for banks and financial institutions under the leadership of Leoni Silitonga and Sandro Panjaitan. Key clients come from China, South Korea and Malaysia, and the firm has the capacity to advise on conventional, sharia and syndicated financing work.

Practice head(s):

Leoni Silitonga; Sandro Panjaitan

Key clients

Lembaga Pembiayaan Ekspor Indonesia (Indonesia Eximbank)

Shinhan Investment Corp. and PT Shinhan Sekuritas Indonesia

Export-Import Bank of Malaysia Berhad

William Hendrik & Siregar Djojonegoro (WH&SD)

William Hendrik & Siregar Djojonegoro (WH&SD) was formed by the recent merger of William & Hendrik and Siregar & Djojonegoro, and continues to act for local and foreign clients on transactional matters. The team is jointly led by Zippora Siregar, who is a name for project finance, structure finance and acquisition finance, and Cindy Djojonegoro, who handles debt restructuring and bankruptcy work.

Practice head(s):

Zippora Siregar; Cindy Djojonegoro

Key clients

PT Indonesia Infrastructure Finance

PT Indonesia Asahan Aluminium

Work highlights

  • Representing PT Indonesia Infrastructure Finance in the proposed corporate financing of a company engaging in the business of control system technology produces in transportation payment, whereby the role involves conducting legal due diligence on the borrowers, providing legal advice on any matters related to the transaction, preparing and negotiating the transaction documentations.
  • Representing PT Indonesia Infrastructure Finance in the proposed corporate financing of a company engaging in the business of cattle livestock, meat processing, poultry, commodity and construction & energy, whereby the role involves conducting legal due diligence on the borrowers, providing legal advice on any matters related to the transaction, preparing and negotiating the transaction documentations.
  • Represented PT Indonesia Infrastructure Finance in the proposed corporate financing for two hospitals, whereby the role involves conducting legal due diligence on the borrowers, providing legal advice on any matters related to the transaction, preparing and negotiating the transaction documentations.

Soemadipradja & Taher

Soemadipradja & Taher advises domestic and international clients on a range of banking and finance matters, with a focus on finance structuring, security packages, regulatory and compliance issues. The firm is associated with Singaporean firm Allen & Gledhill LLP and often acts as local counsel on cross-border issues. The team is led by Retno Muljosantoso, Emalia Achmadi, Denia Isetianti Permata, Robert Reid and Oene Marseille.

Practice head(s):

Retno Muljosantoso; Emalia Achmadi; Denia Isetianti Permata; Robert Reid; Oene Marseille

TnP Law Firm

The banking and finance team at TnP Law Firm is led by Rambun Tjajo and Melissa Butarbutar, and offers clients expertise in acquisition finance, structured finance, restructuring, loans, and regulatory matters. Key clients include banks and financial institutions, investment funds and multinational companies.

Practice head(s):

Rambun Tjajo; Melissa Butarbutar

Key clients

PT Waskita Karya Realty

PT Waskita Fim Perkasa

PT Central Proteina Prima Tbk

PT Bank Negara Indonesia (Persero) Tbk

PT Bank Mayora

PT Semen Indonesia (Persero) Tbk

PT Energi Mega Persada Tbk

PT Perusahaan Pengelola Aset (Persero) (National AssetManagement Company)

PT Bank Rakyat Indonesia (Persero) Tbk

PT Bank Muamalat Indonesia Tbk

PT Grab Teknologi Indonesia

Oriflame Investment Holding Plc (formerly Walnut Bidco PLC)

PT Danareksa Investment Management

PT Bahana Pembinaan Usaha Indonesia

PT Buana Lintas Lautan Tbk

PT Danareksa (Persero)

PT Minna Padi Investama Sekuritas (acquisition of Bank Muamalat)

PT Bank J Trust Indonesia Tbk

PT Bank Agris Tbk

Lembaga Penjamin Simpanan/LPS

PT Hypefast Karya Nusantara – Hypefast Pte Ltd

PT Apexindo Pratama Duta Tbk

Work highlights

  • Advised and assisted Mayora Group (and PT Bank Mayora) on the acquisition of PT Bank Mayora by PT Bank Negara Indonesia Tbk (“BNI”) with a transaction value of approximately IDR 3.5 tn.
  • Advised and assisted PT Perusahaan Pengelola Aset (Persero) (“PPA”), Indonesian state-owned asset management company, on the financial restructuring of one of Indonesian biggest Islamic banks that involved issuance of financial instrument Sukuk (a sharia-compliant bond-like instruments used in Islamic finance) Mudarabah.
  • Advised and assisted international financiers in relation to the loan facility provided for PT Buana Lintas Lautan Tbk.