Firms To Watch: Banking and finance

Hutabarat Halim & Rekan's areas of expertise include debt restructuring and assisting with loan facilities. The practice was bolstered by the arrival of Luthfi Putera in June 2023.

Banking and finance in Indonesia

ABNR Counsellors at Law

ABNR Counsellors at Law‘s diverse offering in the banking and finance space includes advising on the full range of onshore and offshore financing work, as well as syndicated and bilateral lending transactions, securitizations, structure finance and leveraged and acquisition finance. Fintech work and project finance are other key areas of focus for the team, which represents clients from a broad range of sectors, with particular strength in the e-commerce and energy sectors. Emir Nurmansyah heads the practice, bringing particular expertise in marine financing work. The department has deep bench strength, with key practitioners including Rita Taufik and Monic Devina, both well known for handling banking M&A deals; Ayik Candrawulan Gunadi, Nurdin Adiwibowo, and Serafina Muryanti, a quartet of project finance experts; Ammalia Putri, who focuses on regulatory and compliance work in the space; and Maher Sasongko.

Practice head(s):

Emir Nurmansyah

Other key lawyers:

Rita Taufik; Ayik Gunadi; Nurdin Adiwibowo; Serafina Muryanti; Ammalia Putr; Monic Devina; Maher Sasongko

Key clients

Credit Suisse

Sumitomo Mitsui Banking Corporation

ING NoNatixis

U.S International Development Finance Corporation

The Hongkong and Shanghai Banking Corporation

PT Bank DBS Indonesia

Sea Limited

China Development Bank

MUFG Bank Ltd

Kookmin Bank Co., Ltd.

Industrial Bank of Korea

Woori Card Ltd.

Hanwha Life Insurance

Bank of America, N.A.

PT Bank Aladin Syariah

Barclays Bank Plc

PT Bank Tabungan Negara (Persero) Tbk

PT Bank Artha Graha Tbk

Standard Chartered Bank

International Finance Corporation

World Bank Group

Japan Bank for International Cooperation

Korea Development Bank

The Bank Of Tokyo Mitsubishi UFJ, Ltd.

Asian Development Bank

Australia & New Zealand Banking Group Limited

Work highlights

  • Advised BNP Paribas Credit Agricole Corporate and Investment Bank and Societe Generale on financing provided to the Indonesian government for the purchase of six Rafale fighter jets.
  • Advised Australia & New Zealand Banking Group Limited on a $711m financing provided to the Hyundai Mobis Consortium for the development of an electric vehicle battery manufacturing project.
  • Advised Indonesian plantation company PT Sawit Sumbermas Sarana Tbk on an $288m hybrid conventional and shariah-compliant financing provided by a syndicate of lenders.

Ginting & Reksodiputro in association with A&O Shearman

Ginting & Reksodiputro in association with A&O Shearman leverages the wider global footprint of the firm to provide clients with Indonesian, Singaporean, US, and English legal advice, and the practice has a correspondingly strong offering in relation to cross-border finance mandates. The group has an established track record in handling high-value financings, lending work, and restructuring mandates for lender clients. Managing partner Daniel Ginting is highly regarded for his expertise in advising on structured financing transactions, acquisition financing, project development, banking M&A, and debt restructuring. Tarsis Halintar‘s practice includes restructuring work, and he is adept at representing foreign lenders and state-owned companies, while Michael Tardif specialises in project finance. Cindy Riswantyo left the team in October 2023.

Practice head(s):

Daniel Ginting

Other key lawyers:

Tarsis Halintar; Michael Tardif

Key clients

PT Bank Negara Indonesia (Persero) Tbk

PT Bank Mandiri (Persero) Tbk

Indonesia Eximbank

PT Bank Permata Tbk


PT Bank CIMB Niaga Tbk

PT Sarana Multi Infrastruktur (Persero) Tbk

PT Bank Central Asia Tbk

PT Pertamina Internasional Shipping

PT Bank KB Bukopin Tbk

Work highlights

  • Advised Bank Negara Indonesia and other mandated lead arrangers on two series of IDR 6.894tn sustainability-linked financing provided to Semen Indonesia Group.
  • Advised Bank Central Asia, Sarana Multi Infrastruktur and Indonesia Infrastructure Finance on the IDR 1.7tn refinancing of the Nusantara Satu satellite.
  • Advised CIMB Niaga and Bank Negara Indonesia on an IDR 5.25tn facility, with an IDR750bn accordion facility, for PT Lippo Karawaci Tbk.

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

Hadiputranto, Hadinoto & Partners, a member firm of Baker McKenzie advises on the full range of banking and finance matters, and the team particularly stands out for its strength in handling M&A work involving financial institutions. The firm is very well known for handling a number of transactional and regulatory matters concerning diverse financial products, and reports an increase in work involving fintech. Practice head Erwandi Hendarta is a highly regarded practitioner in the space. Indri Pramitaswari Guritno advises on structured finance and Islamic finance as well as transactional work; capital markets expert Mahardikha SardjanaEddie Dewanda and associate partner Agung Wijaya are singled out for their contributions.

Practice head(s):

Erwandi Hendarta

Other key lawyers:

Indri Pramitaswari Guritno; Mahardikha Sardjana; Eddie Dewanda; Agung Wijaya


HHP is very knowledgeable about local Indonesian matters, ranging from regulations, rights, security etc, and is able to communicate and explain them in a concise and clear manner. They are also very well staffed.’

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

  • Advised Standard Chartered Bank on the sale of its Indonesian branch’s consumer business portfolios to PT Bank Danamon Indonesia, Tbk.
  • Advised PT Bank Rakyat Indonesia (Persero) Tbk on acquiring a 30% stake in PT Danareksa Investment Management from PT Danareksa (Persero), bringing the total stake value to 65%.
  • Acted as local counsel in connection with the offer to exchange Jababeka International B.V.’s outstanding Senior Notes for PT Kawasan Industri Jababeka Tbk.’s Guaranteed Senior Secured Notes.

Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills

Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills' team has strong capabilities across the full range of financing mandates; the group advises global and domestic banks and financial institutions on acquisition and leveraged finance, corporate finance, and project finance, notably for clients in the energy, mining, manufacturing, real estate, and TMT sectors. Firm founding partner Tjahjadi Bunjamin is sought after for his excellent track record in advising on cross-border mandates, and jointly heads the practice with Adrianus Adritomo, who fields extensive experience in financing work, debt restructuring matters, and bilateral and syndicated loans.

Practice head(s):

Tjahjadi Bunjamin; Adrianus Adritomo

Key clients

Bank Mandiri (Persero) Tbk.

Korea Development Bank

Bank Negara Indonesia (Persero) Tbk


BNP Paribas

Credit Suisse

DBS Bank Ltd.

Deutsche Bank AG

Indonesia Eximbank


Oversea-Chinese Banking Corporation Limited

Indonesia Investment Authority

Work highlights

  • Advised Kookmin Bank (Hong Kong Branch) on a IDR3 trillion loan agreement extended to Indonesian listed bank, PT Bank KB Bukopin Tbk.
  • Advised Bank Mandiri as lender in providing a US$250m facility agreement to PT Obsidian StainlessSteel.
  • Represented Indonesia Investment Authority as co-investor in the acquisition and refinancing of facilities provided to two Trans-Java Toll Road concession holders.

Oentoeng Suria & Partners in association with Ashurst

Oentoeng Suria & Partners in association with Ashurst has established strength in advising on cross-border work in the banking and finance space, and has a solid track record in handling high-profile financing and restructuring transactions. The team assists international financial institutions with project financing matters in the energy, mining, and infrastructure sectors, and is particularly well known for representing Chinese lenders. Practice head Rizaldy Tauhid specialises in advising on projects and infrastructure financing transactions, and foreign legal consultant Frédéric Draps is active in major project development and financing matters.

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

PT Bank Negara Indonesia (Persero) Tbk



PT Pertamina Hulu Indonesia

PT Bank Mandiri (Persero) Tbk

PT Bank Central Asia Tbk

PT Sarana Multi Infrastruktur (Persero)

PT Halmahera Jaya Feronikel

PT Bank Rakyat Indonesia (Persero) Tbk

PT Bank BTPN Tbk

PT Indonesia Infrastructure Finance

Work highlights

  • Advising China Development Bank on a US$4.5 billion project financing for the development of the Jakarta-Bandung High Speed Rail Project.
  • Represented a syndicate of lenders in a US$1.5 billion debt restructuring of loan facilities owed by PT Angkasa Pura I.
  • Assisted PT Pertamina Hulu Energi with US$2.5 billion corporate loan facilities granted by international and national lenders.

Widyawan & Partners

At Widyawan & Partners, the team covers the full spectrum of banking matters, including financing transactions, distressed debt matters, debt restructuring, and acquisitions. The client base includes high-profile, international financial institutions, as well as energy, industrial, real estate, telecoms, financial, and retail entities. Cross-border work is prominent in the group's workload. Adrian Pranata focuses on financing transactions, and jointly heads the practice with David Holme, who specialises in project finance matters relating to the energy and infrastructure sectors.

Practice head(s):

Adrian Pranata; David Holme


They work very efficiently.’

Key clients

PT. Bank Negara Indonesia (Persero)

PT Centratama Telekomunikasi Tbk

PT Perusahaan Gas Negara Tbk

HSBC Trustee (Hong Kong) Limited

HSBC Bank Australia Limited

JPMorgan Chase Bank

PT Bank HSBC Indonesia

Work highlights

  • Advised the mandated lead arrangers in connection with the refinancing of the Kanci-Pejagan toll road and Pejagan-Pemalang toll road.
  • Advised PT Centratama Telekomunikasi Tbk and its subsidiaries on a US$850m syndicated financing for the acquisition of shares in PTEPID Menara AssetCo.
  • Acted as Indonesian legal adviser to PT Perusahaan Gas Negara Tbk concerning unsecured term loan facilities valued at US$800m.

Assegaf Hamzah & Partners

The banking and finance practice at Assegaf Hamzah & Partners is noted for its strengths in the fintech space, and its strong experience in assisting Chinese investors with mandates involving foreign direct investment into Indonesia. Led by structured finance expert Ibrahim Sjarief Assegaf, the team regularly acts for Indonesian government agencies and regulators. Ahmad Fikri Assegaf advises on venture capital, private equity, and corporate financing matters, and Harun Ngantung fields extensive experience in handling syndicated lending, structured and leveraged finance, and refinancing transactions. Indira Yustikania is a key name for fintech mandates.

Practice head(s):

Ibrahim Sjarief Assegaf

Other key lawyers:

Ahmad Fikri Assegaf; Indira Yustikania; Harun Ngantung

Key clients

Asian Development Bank

PT Bank BTPN Tbk.

PT Bank Central Asia Tbk.

PT Bank Mandiri (Persero) Tbk.

PT Bank Negara Indonesia (Persero) Tbk.

PT Bank Rakyat Indonesia (Persero) Tbk.

PT Bank Muamalat Indonesia Tbk.

PT Bank Danamon Indonesia Tbk.

PT Bank CIMB Niaga Tbk.

PT Bank Jago Tbk.

PT Bank DBS Indonesia

PT Bank Maybank Indonesia Tbk.

BNP Paribas

ABN Amro Bank N.V., Singapore Branch

Abu Dhabi Commercial Bank PJSC

Overseas-Chinese Banking Corporation Ltd

PT Fintek Karya Nusantara

PT GoTo Gojek Tokopedia Tbk.

PT Medco Energi Internasional Tbk.

PT Indonesia Infrastructure Finance

Work highlights

  • Acted as Indonesian counsel to the lenders in granting a financing facility of up to USD300m to Traveloka.
  • Assisted PT Satelit Nusantara Lima with obtaining financing from local lenders for the construction and launch of the N5 Satellite.
  • Acted as Indonesian legal counsel to the mandated lead arrangers on a USD 265m loan facility provided to PT Plaza Indonesia Investama and PT Plaza Indonesia Realty Tbk.

Makarim & Taira S.

Makarim & Taira S. has an excellent reputation for advising Chinese banks and financial institutions, export credit agencies, and international banks on work concerning the Indonesian market. The firm also has experience in handling matters involving aviation finance, Islamic finance, project finance, and fintech. Managing partner Maria Sagrado and Frederick Simanjuntak co-lead the practice; Simanjuntak has established expertise in advising on syndicated lending and project finance matters concerning the energy, aviation and private equity sectors. Stephanie Kandou handles transactional work in the department.

Practice head(s):

Maria Sagrado; Frederick Simanjuntak

Other key lawyers:

Stephanie Kandou

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

GE Healthcare

Bank of America


Latham & Watkins LLP

Razer Merchant Services Sdn. Bhd.

PT Sampoerna Investama and PT Bank Sahabat Sampoerna

Work highlights

  • Represented PT Freeport Indonesia as issuer relating to the issuance of notes in the USA.

TNB & Partners in association with Norton Rose Fulbright

TNB & Partners in association with Norton Rose Fulbright frequently acts as local counsel for Norton Rose Fulbright, advising multinational lenders on complex cross-border financial matters in the South East Asia market. The practice has notable strength in advising aviation clients on asset finance, and regularly acts for renewable energy clients in financial matters. Sustainable finance work is a growing part of the department's offering in Indonesia. Practice head Tasdikiah Siregar handles debt finance, M&A, and regulatory work; associates Wira Saputra and Merlyn Margaretha are also key contacts.

Practice head(s):

Tasdikiah Siregar

Other key lawyers:

Wira Saputra; Merlyn Margaretha

Key clients

Bangkok Bank Public Company Limited

Bank of America

DBS Bank Ltd.

PT Medco Cahaya Geothermal

United Overseas Bank Limited

Work highlights

  • Acting for a number of financial services clients, as lenders, in relation to a U$390 million revolving credit facility agreement.
  • Advised the clients on the financing of the 110MW geothermal power plant in East Java granted by PT Sarana Multi Infrastruktur (Persero).
  • Acting as Indonesian counsel for Bangkok Bank Public Company Limited on providing a US$655 million debt financing to Star Energy Group Holdings Pte. Ltd.

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

Witara Cakra Advocates (WCA) in exclusive association with White & Case LLP Indonesia is well versed in handling debt financing work, with strength in representing lenders, underwriters, and arrangers in a broad range of secured loan and structured finance transactions. Project finance is another key area of instruction for the group, which assists prominent global and domestic energy and natural resources companies with high-value transactions. Fajar Ramadhan is the practice head, and is highly regarded for his solid track record in advising on financings, debt restructurings, security structures, project finance, and international bond offerings. PPP specialist Cindy Riswantyo joined the team from Ginting & Reksodiputro in association with A&O Shearman in October 2023.

Practice head(s):

Fajar Ramadhan

Other key lawyers:

Cindy Riswantyo

Key clients

Asian Infrastructure Investment Bank

Banco Santander, N.A.

BPI France

HSBC Corporation Limited

Korean Development Bank

PT FKS Multi Agro Tbk

Work highlights

  • Advising the arrangers on the US$850m financing provided to PT Centratama Telekomunikasi Indonesia Tbk and others in connection with the acquisition of PT EPID Menara AssetCo.
  • Advised HSBC Corporation Limited and others on a US$432m debt financing provided to PT Satelit Nusantara Tiga for the PPP Satellite Infrastructure Project.
  • Assisted PT FKS Multi Agro Tbk., a leading Indonesian food and agricultural company, as borrower, with the Indonesian law aspects concerning a syndicated financing.

Hanafiah Ponggawa & Partners – Dentons HPRP

Hanafiah Ponggawa & Partners – Dentons HPRP is noted for its strong track record in handling project finance work concerning infrastructure developments, financing transactions for aviation clients, and a range of cross-border matters in the banking and financing space. The practice is led by the triumvirate of Fabiola HutagalungErwin Kurnia Winenda and Michael Kaihatu; Winenda and Kaihatu are noted for their expertise in advising financial and government institutions respectively.

Practice head(s):

Fabiola Hutagalung; Erwin Kurnia Winenda; Michael Kaihatu

Key clients

PT Penjaminan Infrastruktur Indonesia (Persero)

PT Bank Neo Commerce Tbk

RHB Indonesia

PT BPR Kredit Mandiri Indonesia

PT Bank Jabar Banten Syariah

PT Aviana Sinar Abadi Tbk

PT Reliance Capital Management

Intesa Sanpaolo


PT Bank Danamon Indonesia Tbk

TAIGOF Credit Opportunities Fund Ltd.

Tahan Capital Management Pte. Ltd.

Smart Time Enterprise Limited.

Work highlights

  • Assisted PT Bank Danamon Indonesia Tbk with the conditional acquisition of performing loan portfolios from Standard Chartered Bank Indonesia.
  • Acted for IIGF in the provision of Government Guarantees for syndicated loans and credit facilities with an aggregate value of IDR 50 trillion.

Makes & Partners

The team at Makes & Partners leverages its corporate, capital markets and regulatory expertise when assisting clients with corporate finance matters. Firm managing partner Yozua Makes is active on banking work, and co-heads the department with Fransisca, a highly regarded practitioner in the finance and M&A arenas.

Practice head(s):

Yozua Makes; Fransisca

Key clients

PT JTD Jaya Pratama

PT Lippo Karawaci Tbk

Golden Energy and Resources Limited

PT Agung Podomoro Land Tbk

PT Profesional Telekomunikasi Indonesia

PT Plaza Indonesia Realty Tbk

PT Plaza Indonesia Investama

PT Kawasan Industri Jababeka Tbk

PT Bali Towerindo Sentra Tbk

PT Victoria Investama Tbk

PT Tunas Baru Lampung Tbk

PT Bank Ganesha Tbk

PT Bank Victoria International Tbk

PT Sejahteraraya Anugrahjaya Tbk

PT Bundamedik Tbk

PT Gajah Tunggal Tbk

PT Multipolar Tbk

Kohlberg Kravis Roberts & Co.

Citigroup Global Markets Singapore Pte Ltd

PT Ciputra Development Tbk

Hankyu Hanshin Properties

Work highlights

  • Advised PT Agung Podomoro Land Tbk on the sale of its ownership over “Central Park” Mall to PT CPM Assets Indonesia.
  • Advised PT Plaza Indonesia Realty Tbk and PT Plaza Indonesia Investama on the refinancing of a prominent investment fund by PT Sinarmas Asset Management, via a syndicated facility and accordion facility.

SSEK Law Firm

SSEK Law Firm's workload includes a range of financial matters, including banking M&A, insurance matters and fintech-related mandates. Ira Eddymurthy heads the practice, with established expertise in project finance, insurance law and foreign investment work. Dewi Savitri Reni is a key name for banking M&A and financing work in the natural resources sector, and Winnie Rolindrawan fields experience in fintech matters.

Practice head(s):

Ira Eddymurthy

Other key lawyers:

Dewi Savitri Reni; Winnie Rolindrawan

Key clients

Bank Index

PT Danareksa (Persero)


Western Union

CIMB Group

UOB Singapore



Ping An Puhui

Work highlights

  • Represented Jakarta-based Bank Index and its majority shareholders in a share subscription transaction with Modalku and Trusty Cars.
  • Advised PT Pertamina subsidiary Pertagas on a facility agreement in order to fund the client’s existing projects.
  • Assisted PT Danareksa (Persero), an Indonesian state-owned enterprise engaged in financial services, with becoming established as a Holding State-Owned Enterprise.

UMBRA – Strategic Legal Solutions

UMBRA – Strategic Legal Solutions has a particularly strong offering in relation to project finance, and regularly advises on mandates involving renewable development projects in the energy sector. Kirana Sastrawijaya brings extensive experience in handling project finance matters within the power, energy, construction, and infrastructure sectors, and co-heads the practice with Putu Raditya Nugraha, who has strength in fintech matters and advising clients in heavily regulated industries on financing work.

Practice head(s):

Kirana Sastrawijaya; Putu Raditya Nugraha


UMBRA is able to assist their clients very professionally, with quality that rivals international firms.

UMBRA’s team gets the job done. They accommodate our requests, advise us on practical alternatives, and ensure that our deals move forward regardless of circumstances.

Putu and his team have been responsive and attentive to our needs. Putu has a rich understanding of the Indonesian regulatory framework, specifically in the banking and finance sector, and its implementation, risks and impact. He speaks our language in giving strategic advice.

Key clients

Euronet Worldwide, Inc

Exness B.V.

Impact Credit Solution, Pte. Ltd.

Kuelap, Inc

Lendable Asset Management LLC

Loka Holding

PT Bank Syariah Indonesia, Tbk (BSI)

PT Bank Tabungan Negara (Persero) Tbk

PT Caterpillar Finance Indonesia

PT Durian Pay Indonesia

PT Mad Monkey Hostels Indonesia

PT Medco Daya Abadi Lestari

PT Pertamina EP Cepu

PT PLN (Persero)

PT Putragaya Wahana

PT Rekeningku Dotcom Indonesia

PT Ruang Raya Indonesia

PT Sarana Multi Infrastruktur (Persero)

Tetra Tech ES, Inc.

Traveloka Group

Work highlights

  • Acted for PT Bank Syariah Indonesia (BSI) in a transaction involving the provision of a USD50,473,275 facility to PT Medco Power Indonesia for financing its renewable energy project.
  • Advised PT Sarana Multi Infrastruktur (Persero) on a financing agreement for the development of Unit 1 of the Blawan Ijen Geothermal Project.
  • Advising Loka Holdings and its affiliates on obtaining USD300,000,000 of financing, provided by a syndicate of entities including INA, BlackRock, Allianz Global Investors, and Orion Capital Asia.

Adnan Kelana Haryanto & Hermanto (AKHH)

Adnan Kelana Haryanto & Hermanto (AKHH)'s department is well known for advising on transactional and regulatory matters, with particular strength in handling work from clients in the energy and natural resources sectors. Andy Kelana and Helena Adnan jointly head up the practice; Erline Herrmann handles finance and M&A issues.

Practice head(s):

Andy Kelana; Helena Adnan

Other key lawyers:

Erline Herrmann


AKHH is a solid firm, able to deliver timely and pragmatic advice.’

Erline Herrmann has international experience balanced with a deep understanding of local requirements and practices.

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

United Overseas Bank Limited

IABF Law Firm (IABF)

IABF Law Firm (IABF) has a solid track record in assisting state-owned entities with loan facilities work. Ivan Baely heads the practice, in which Almaida Askandar and Robert Hasan are also key practitioners to note.

Practice head(s):

Ivan Baely

Other key lawyers:

Almaida Askandar; Robert Hasan

Key clients

PT Aviasi Pariwisata Indonesia (Persero)

PT Angkasa Pura II

PT Krakatau Sarana Infrastruktur

Mandaya Medical International Pte. Ltd

Chailease International Financial Services (Singapore) Pte. Ltd.

Work highlights

  • Assisting PT Angkasa Pura II a subsidiary of state-owned company engaged in the business line of airport management in regards of loan reprofiling.
  • Representing PT Krakatau Sarana Infrastruktur, a sub-holding of a state-owned company in steel industry in securing a loan facility for asset acquisition from PT Sarana Multi Infrastruktur.

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

Roosdiono & Partners (a member firm of the KPMG Law network) acts for banks and financial institutions across Malaysia, China, South Korea, and Indonesia in cross-border financing mandates. Practice head Leoni Silitonga has expertise in project finance, asset-backed securitisations, structured finance matters, and Islamic finance transactions. Sandro Panjaitan is regularly instructed by state-owned companies and government institutions.

Practice head(s):

Leoni Silitonga

Other key lawyers:

Sandro Panjaitan

Key clients

Export-Import Bank of Malaysia Berhad

Shinhan Investment Corp.

PT Shinhan Sekuritas Indonesia

Lembaga Pembiayaan Ekspor Indonesia

William Hendrik & Siregar Djojonegoro (WH&SD)

The banking and finance practice at William Hendrik & Siregar Djojonegoro (WH&SD) is headed up by Zippora Siregar, who stands out for her expertise in handling corporate finance, structured finance, and project finance matters, and also fields strength in handling financing transactions. Stefy Yully Nataly provides key support.

Practice head(s):

Zippora Siregar

Other key lawyers:

Stefy Yully Nataly

Key clients

PT Indonesia International Automotif Proving Ground

Work highlights

  • Representing PT Indonesia International Automotive Proving Ground as PPP project owner in the proposed syndicated financing from Japan Bank International Cooperation and MUFG Bank.
  • Advised PT Indonesia Asahan Aluminium (Persero) (Inalum) on a club deal loan financing transaction from local banks.

Soemadipradja & Taher

Soemadipradja & Taher's banking and finance offering includes financial regulatory matters and a range of transactional work. Emalia Achmadi heads up the practice, and has a solid track record in assisting major international banks with complex regulatory and compliance matters in the space.

Practice head(s):

Emalia Achmadi

Key clients

PT Princeton Digital Group Data Centre

Standard Chartered Bank

OCBC Al-Amin Bank Berhad

United Overseas Bank Limited

Credit Guarantee and Investment Facility (CGIF)

Work highlights

  • Advised Princeton Digital Group Data Center’s Indonesian subsidiary on a proposed financing for the construction of data centres in Indonesia.
  • Advised OCBC Bank Al-Amin Berhad on a US$10 million Islamic financing facility guaranteed by two Malaysian parties.
  • Advised the Credit Guarantee and Investment Facility on a US$100 million guarantee to Perpetual (Asia) Limited in order to procure the issuance of guaranteed bonds.

TnP Law Firm

TnP Law Firm's team has a wide range of experience in the banking and finance space. The department advises Indonesian banks on M&A, financing, debt restructuring, and bilateral and syndicated lending mandates, and the group has seen an increase in work involving syndicated sustainability linked loans. Founding partner Rambun Tjajo and managing partner Melissa Butarbutar jointly head the practice, in which Ken Prasadtyo is a key practitioner.

Practice head(s):

Rambun Tjajo; Melissa Butarbutar

Other key lawyers:

Ken Prasadtyo


The group has an unparalleled depth of skill, delivered by a team of genuinely good people. They invariably work with you as a partner to seek to help resolve any challenges that arise.

Key clients

PT Semen Indonesia (Persero) Tbk

PT Grab Teknologi Indonesia

PT Danareksa (Persero)

PT Perusahaan Pengelola Aset

PT Buana Lintas Lautan Tbk

PT Bank Mayora

PT Bank Negara Indonesia (Persero) Tbk

PT Semen Baturaja (Persero) Tbk

Bahana Kapital Investama/BPUI

GMF Aero Asia (Garuda)

PT Pelabuhan Indonesia (Persero) (“Pelindo”)

Work highlights

  • Advising the Mayora Group on the acquisition of PT Bank Mayora by PT Bank Negara Indonesia Tbk.
  • Advising PT Semen Indonesia (Persero) Tbk and PT Solusi Bangun Indonesia Tbk on a USD460m SSL credit agreement with twelve banks.
  • Advising PT Perusahaan Pengelola Aset on a completion of facility financing for the restoration and growth of its existing fleet, amidst the company’s restructuring program for airline company Garuda Indonesia.

Walalangi & Partners in association with Nishimura & Asahi

Walalangi & Partners in association with Nishimura & Asahi advises international clients on all aspects of international banking matters, with notable strength in handling cross-border mandates relating to Japan. Luky Walalangi heads up the practice, and has a solid track record in advising on corporate, finance, and real estate-related transactions. Miriam Andreta and Hans Adiputra Kurniawan are also singled out for their contributions.

Practice head(s):

Luky Walalangi

Other key lawyers:

Miriam Andreta; Hans Adiputra Kurniawan

Key clients

AEL Indonesia, PT

Bank of Ayudhya Thailand

Casio Co., Ltd.

Colliers International

Cool Japan Fund


Deel Inc.

Denso Corporation

Dhost Telekomunikasi Nusantara, PT

Diamond Development Indonesia, PT

Digital Payments Holdings, Pte., Ltd.

Essex Bio – Technology Limited

Family Mart Co., Ltd.

Geo Technologies, Inc.

Global AI Innovations Laboratory Co., Ltd. (Gailabo)

Google Inc.

Google Indonesia

GS Yuasa Corporation

Hankyu Hanshin Properties Corp.

Haseko Corporation

Work highlights

  • Advising Mitsubishi UFJ Financial Group on an acquisition of a 100% stake, worth approximately USD641m, in HC Consumer Finance Philippines, and an 85% stake in PT Home Credit Indonesia.
  • Advising PT MC Urban Development Indonesia and others on a financing matter, concerning the development of logistic assets worth US$1bn in Indonesia.