UMBRA recently closed the biggest offering of commercial paper in Indonesia issued by PT Jasa Marga (Persero) Tbk
Continuing our strong series of deals, led by Senior Partner Ahmad Zakaria and supported by Associate Paula Aprijanto, UMBRA – Strategic Legal Solutions acted as the legal counsel to PT Jasa Marga (Persero) Tbk as the issuer in their first public offering of commercial papers.
The transaction marks the biggest offering of commercial papers in Indonesia’s money market, so far. The commercial papers have been rated idA1+ (A1+) by PT Pemeringkat Efek Indonesia (PEFINDO).
Our firm is honored to have this opportunity to assist Jasa Marga, as one of the Indonesian leading infrastructure providers, in such a successful offering. Having already provided with various sources of financing through the capital market, the issuance of commercial papers will enable Jasa Marga to further diversify its funding sources. Hopefully, many more Indonesian corporations will be interested to follow the path of Jasa Marga and explore alternative financing schemes, particularly money market instruments.
Our sincere thanks to BNI Sekuritas 46 for the great cooperation which allows Jasa Marga to successfully complete this transaction.