Representing PT Pertamina EP Cepu (PEPC) in the US$1.85bn financing for the US$4.6bn Jambaran-Tiung-Biru (JTB) gas field unitization project.
We would like to congratulate PT Pertamina EP Cepu (PEPC) for the successful closing of its US$1.85bn financing (arranged by a syndication of 12 major foreign and local banks) for the US$4.6bn Jambaran-Tiung-Biru (JTB) gas field unitization project, which is one of Indonesia Government’s national strategic projects and the first project financing completed by a member of PT Pertamina (Persero)’s upstream subsidiaries.
Led by our financing, energy, and infrastructure Senior Partners Putu Raditya Nugraha, Reggy Firmansyah, and Kirana Sastrawijaya, we acted as PEPC’s borrower counsel in running this first of its kind project financing being a hybrid of conventional and Shari’a financing using Trustee Borrowing Scheme (creating an additional layer of complexity to the usual scheme) and also one of the largest project financing transactions closed in 2019.
Congratulations again to all the parties involved in this deal! It’s been an honor to be involved in this historical project.