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Jakarta Asia Pacific allenovery.com | grlaw.co.id
Jakarta | Asia Pacific
Indonesian local law advice
with world class expertise
30+ 6
More Band 1
5
partners
lawyers offices across
rankings across
ASEAN than any other
international law firm
(including partners) ASEAN* Chambers 2020
We believe our Indonesian offering is second to none. We have a dedicated
Indonesian team comprising partners and associates from our offices in Jakarta
(Ginting & Reksodiputro in association with Allen & Overy) and Singapore who
are experienced in advising on Indonesian deals.
No other law firm in Indonesia has the same level of Our five partner/foreign legal consultant team is comprised
integration with a top tier international firm. Ginting & of Daniel Ginting, one of Indonesia’s leading lawyers
Reksodiputro has access to the depth and breadth of covering the whole spectrum of advice; Harun Reksodiputro,
Allen & Overy’s resources – this sets us apart from our a market leading corporate and M&A practitioner;
competitors. This integration means that we are truly a Sugianto Osman, one of the foremost technology and private
one stop shop that can provide world class English/U.S./ equity lawyers in Indonesia; Tarsis Halintar, a banking,
Indonesian law advice on a more efficient and effective PPP and finance specialist and Michael Tardif, a leading
basis than many other international firms who need to energy and major projects lawyer.
work with separate local firms in Indonesia. Our Indonesian offering is a core element of A&O’s broader
Our international approach puts us at the top of people’s ASEAN coverage which encompasses offices in Singapore,
lists when it comes to complex, cross-border and Thailand and Vietnam (which have local law capability)
challenging transactions in Indonesia. and Myanmar; and major ‘desks’ servicing Malaysia and
the Philippines.
“They are responsive and provide helpful advice that is repackaged in a commercial way,
rather than just repeating the law.”
Chambers 2020 (Indonesia – Corporate/M&A)
Best Overall Law Firm – Ginting & Reksodiputro
Asia Business Law Journal, Indonesia Law Firm Awards 2019
“An excellent reputation as a top choice for Indonesia-related work, with a strong offering
across banking, corporate/M&A, capital markets and project financing.”
Chambers 2020 (Indonesia – Corporate & Finance, Expertise Based Abroad)
* Singapore, Bangkok, Hanoi, Ho Chi Minh City, Jakarta (via exclusive association with Ginting & Reksodiputro), Yangon
© Allen & Overy LLP 2020Jakarta | Asia Pacific
Our experience includes advising:
Banking Corporate
Grasberg copper mine Titan Infra Energy QBE General Insurance
acquisition financing syndicated financing Indonesia’s sale to
Acting for the mandated lead Advised the mandated lead arrangers Great Eastern
arrangers and bookrunners on a and bookrunners in relation to a Advised QBE Insurance Group on
USD2.85bn standby senior financing USD450m syndicated financing to PT the disposal of 100% of its shares
to fund the Indonesian government’s Titan Infra Energy, one of Indonesia’s in PT QBE General Insurance
acquistion (through its state-owned fastest growing infrastructure, Indonesia to Great Eastern
entity, PT Indonesian Asahan energy and logistics companies, General Insurance Limited and
Aluminium (Persero) (Inalum)) with expertise stretching across the PT Suryasono Sentosa.
of the majority stake in the Grasberg value china from energy resource
copper mine in the Papua province. production, hauling road, port to FWD Group’s acquisition
The deal is a record corporate sea and river transportation, for the
acquisition in Indonesia. refinancing of existing mezzanine
of Commonwealth Life
and working capital facilities and Advised FWD Group, the pan-Asian
Holcim Indonesia to complete certain corporate insurance business of Pacific
acquisition financing reorganisations within the group Century Group, on its acquisition
as part of a pre-IPO/bond issue of PT Commonwealth Life,
Advised the mandated lead arrangers clean-up process. The financing was the Indonesian life insurer,
and bookrunners on financing highly secured and involved over from Commonwealth Bank of
the acquisition by a wholly owned 300 separate security documents, Australia and its local partners.
subsidiary of Indonesia’s top with numerous existing security pools
cement maker, the state-owned (which had to be released and retaken Garudafood’s partnership
PT Semen Indonesia (Persero)
Tbk (Semen Indonesia) of shares
in favour of the new lenders as part with a PE investor
of the refinancing) and different
in PT Holcim Indonesia Tbk. types of security interests over Advised PT Garudafood Putra
The financing included: (i) a a wide range of assets eg accounts, Putri Jaya, a leading food and
USD1.052m facility for the purpose inventories, receivables, vessels, beverage company in Indonesia,
of financing the acquisition of barges and land. The transaction on its strategic partnership with an
approx. 80.64% shares in PT also involved a complex cashflow international private equity investor.
Holcim Indonesia Tbk held by model and bespoke security sharing
LafargeHolcim; and (ii) a USD253m mechanics in relation to future
facility for the purpose of financing hedging and ancillary facilities to be
the mandatory tender offer which granted to the borrower.
Semen Indonesia is required to
make under Indonesian law for the
remaining shares in PT Holcim
Indonesia Tbk.
© Allen & Overy LLP 2020Capital
Markets
Tokopedia’s Bank Mandiri’s EMTN LLPL Capital’s high yield
series H fundraising programme and drawdown bond issue
Advised Tokopedia, a leading Advised HSBC, Mandiri Securities, Advised CIMB, Barclays and Citi
Indonesian online marketplace and MUFG Securities, SCB Singapore as the joint lead managers together
one of Indonesia’s four “unicorns”, Branch and Standard Chartered Bank with SMBC Nikko Securities as
on its USD1.1 bn Series H fundraising as the arrangers and the dealers on the the co-manager and Citicorp as the
led by Softbank Vision Fund (SVF) establishment by PT Bank Mandiri trustee on LLPL Capital Pte. Ltd.’s
and Alibaba Group, and various (Persero) Tbk of its USD2bn euro debut 144A/Reg S high yield offering
other strategic corporate matters. medium term note programme and of USD775m 6.875% Guaranteed
the inaugural drawdown of USD750m Secured Senior Notes due 2039,
GO-JEK’s 3.75%. notes due 2024 thereunder. unconditionally and irrevocably
series F fundraising This marked the first EMTN guaranteed by PT Lestari Banten
programme establishment by a Energi, an Indonesian company.
Advised GO-JEK, one of Indonesia’s quasi-sovereign Indonesian bank Banten 1 (an Independent Power
four “unicorns”, on its first series and the first time the bank has Producer – IPP), a subsidiary of
F funding round led by Google, tapped the international bond Lestari Listrik, owns a supercritical,
JD.com and Tencent, as well as several markets since 2009. coal-fired steam power generation
other investors including Mitsubishi facility with pulverized boiler
Corporation and Provident capital. Wijaya Karya’s high technology with an installed capacity
As at the date of this transaction,
GO-JEK is the largest provider of
yield bond issue of 670 MW (gross)/635 MW (net)
located in Banten Province, Indonesia.
mobile on-demand and payment Advised BNP Paribas, HSBC,
facilities in Southeast Asia. Mandiri Securities and MUFG on
PT Wijaya Karya (Persero) Tbk’s
high yield Rule 144A/Reg S IDR5.4tn
7.70% senior notes due 2022.
This is the second Komodo
bond (Indonesia offshore
Rupiah-denominated bond) issued.Energy &
Natural Infrastructure
Resources
Jawa 1 FSRU and North Sumatera Province, and the Airport Link BIJB
drafting and negotiation of the
gas-fired IPP EPC contract with an Indonesian Kertajati Toll Road
Advised JBIC, NEXI, ADB and the state-owned contractor, PT Barata Advised the lenders on the
commercial lenders on the USD1.8bn Indonesia (Persero). IDR8.8 trillion (USD616.9m)
2x800MW Jawa 1 FSRU and gas-fired financing of the Airport Link BIJB
IPP project, the first LNG-to-Power Tangguh LNG Train 3 Kertajati Toll Road, arranged by
project in Asia employing an FSRU. Advised JBIC, ADB, 14 international PT Bank Central Asia Tbk., to
Awarded Project Finance Deal of the banks and four Indonesian banks PT Lintas Marga Sedaya. The
Year, IFLR Asia Awards 2019; Power on the USD3.745bn financing of an financing was divided into two
Deal of the Year, PFI Awards 2018; expansion of LNG Train (Train 3) of tranches. Tranche B is for financing
and Asia Pacific Power – Gas Deal Tangguh LNG Project in Papua Barat the construction of a toll road
of the Year, IJ Global Asia Pacific province, Indonesia, under a Trustee between the Cipali Expressway and
Awards 2018. Borrower Scheme. the Kertajati Airport in West Java,
Indonesia under a 35-year PPP
Jawa 3 gas combined cycle ExxonMobil/Federal Oil BOT-concession. Tranche A is
power plant Advised ExxonMobil on its
to refinance the existing
IDR8.8trn facility. The project is
Advising PT Pembangkitan Jawa Bali USD436m acquisition of Federal
a key infrastructure link to the new
on the proposed development of the Oil, one of Indonesia’s leading
Kerjati Airport.
800MW Jawa 3 gas combined-cycle automotive lubricants companies,
power plant, one of the first projects from MPM Group. Bandar Lampung water
to be developed under the 51-49%
collaboration scheme between PLN’s Newmont Mining PPP project
subsidiaries and private developers. Corporation Advised a consortium of international
and local investors on the proposed
Batang Toru 3 mini hydro Advised the three largest Indonesian
750 litre per second water project
state-owned lenders Bank Mandiri,
power project Bank Negara Indonesia and Bank
(tendered under the PPP framework
with the first viability gap funding)
Mitsui & Co Ltd. and Shikoku Electric Rakyat Indonesia, as senior lenders
in Bandar Lampung. This greenfield
Power Co., Inc. on the acquisition to an Indonesian consortium,
project is a PPP project tendered out
of a 30% stake in a subsidiary of the on the acquisition financing of a
by a regionally owned water company
IDX-listed renewables energy majority interest (worth USD2.6bn)
who will enter into a water concession
producer PT Terregra Asia Energy in Newmont Mining Corporation’s
agreement with the project.
Tbk. for the development of Batang Indonesian copper and gold assets.
Advice includes structuring the
Toru 3 10 MW Mini Hydro Power project and reviewing the water
Project in South Tapanuli Regency, concession agreement and risk matrix.
allenovery.comFOR MORE INFORMATION, PLEASE CONTACT:
Jakarta
Ginting & Reksodiputro
in association with Allen & Overy LLP
The Energy Building, 15th Floor
Sudirman Central Business District
JI Jend Sudirman Kav 52-53
Jakarta 12190
Indonesia
Tel +62 21 2995 1700
Fax +62 21 2995 1799
Office contacts
Daniel Ginting Harun Reksodiputro Sugianto Osman Tarsis Halintar
Partner Partner Partner Partner
Tel +62 21 2995 1701 Tel +62 21 2995 1711 Tel +62 21 2995 1728 Tel +62 21 2995 1717
daniel.ginting@allenovery.com harun.reksodiputro@allenovery.com sugianto.osman@allenovery.com tarsis.halintar@allenovery.com
Michael Tardif
(Partner level)
Foreign Legal Consultant
Tel +62 21 2995 1702
michael.tardif@allenovery.com
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© Allen & Overy LLP 2020 | Indonesia_6pp_Office_Brochure_ADD-89320
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