Successful Closing of the Largest Project Financing in Indonesia in 2020 – US$2.7 Billion Project Financing for a Major Power Project
2020 has fortunately been a great year for us, and to close it properly, allow us to announce our penultimate deal of the year, the successful closing of US2.7 billion project financing for a major power project, the largest project financing in Indonesia in 2020!
As the borrower counsel, using our deep knowledge on Indonesian Company Law & Civil Code, we developed a novel project financing & hybrid security structure, setting out a new precedent for financing involving SOE group companies and international financial institutions.
The project was previously in limbo for around 2 years prior to our involvement due to disagreements on transaction structure. Yet, despite the massive structural challenges, led by Pramudya A. Oktavinanda for the structuring and Kirana Sastrawijaya, Putu Raditya Nugraha, and Liyanto Wijaya for the power and project financing side, we manage to make the impossible possible and close the deal in a tight time frame during the pandemic.
It is a huge pleasure that our solution can resolve the major bottleneck, be accepted by multiple stakeholders, and most importantly, get the things done for the project. Big congratulations to all the parties involved in this historical deal, and as we move forward to 2021, let us make a new history!
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