Practice Focus

Corporate & Capital Market

 

Sub-Practice & Industry

M&A, General Corporate, Equity & Debt Securities, Good Corporate Governance, State-Owned Enterprises

 

Language

Indonesian & English

 

Awards

  • Listed in IFLR1000 2020 as a Rising Star in Capital Market.

Paula Aprijanto

ASSOCIATE

+62 21 5082 0980

paula@umbra.law

Paula joins as an Associate of UMBRA – Strategic Legal Solutions on April 2018. She has previously worked in one of leading capital market law firm in Indonesia.

Her main practice includes equity and debt securities offering, domestic or international (based on Rule 144A/Reg S of the US Securities Act of 1933), material and affiliated transaction as well as compliance and good corporate governance.

Paula has extensive experience both in transactional and advisory works. She has assisted new issuer to the Indonesian capital market as well as advising various public companies facing regulatory and policy complexities.

PROFILE DETAILS

Education

  • University of Indonesia, Bachelor of Laws (SH) – cumlaude (2015)

REPRESENTATIVE DEALS

Capital Market and Securities

  • Representing PT Pertamina (Persero) in its offering of USD10 billion Global Medium-Term Notes program (2019) (nominated as Debt Market Deal of the Year by Asian Legal Business – Thomson Reuters in 2019)
  • Representing a budget hotel chain company in its pre-Initial Public Offering restructuring and Initial Public Offering process (ongoing)
  • Representing a major regional bank in its pre-Initial Public Offering restructuring and Initial Public Offering process (ongoing)
  • Representing PT Natura City Developments Tbk. in its initial public offering of Rp312 billion and pre-IPO restructuring program (2018)
  • Representing PT PLN (Persero) (“PLN“) in its offering of Rp20 trillion bonds and Ijarah Sukuk as part of its 2018-2020 shelf offering program (Penawaran Umum Berkelanjutan) (2018-2020) (nominated as top three finalist of Debt Market Deal of the Year by Asian Legal Business – Thomson Reuters in 2018)
  • Represented international banks in the issuance of global bonds of a leading Indonesian property company, listed in SGX (2017-2018)
  • Represented PT Indofood Sukses Makmur (Tbk) in its offering of IDR2 trillion bonds (2017)
  • Represented PT Bank Mandiri (Persero) Tbk in its offering of IDR15 trillion bonds for the 2016 shelf offering program (2016-2017)
  • Represented Citigroup Global Markets, Singapore Pte. Ltd, and UBS AG, Singapore Branch in the offer to purchase by Global Prime Capital, Pte. Ltd, a subsidiary of PT Bumi Serpong Damai Tbk, of Senior Debts with interest of 6.75% due on 2020 which is guaranteed by PT Bumi Serpong Damai Tbk several subsidiaries; and the issurance of Senior Debts US$200,000,000 with interest of 5.50% due on 2023, issued by Global Prime Capital Pte. Ltd. (2016)
  • Represented PT Bumi Serpong Damai Tbk in its offering of IDR3 trillion bonds for the 2016 shelf offering program (2016)
  • Represented PT XL Axiata Tbk in its rights issue offering to fully repay the US$500 million shareholders loan (2016)
  • Represented Joint Lead Underwriters in the initial public offering of PT Kino Indonesia (Tbk) (2015)

 

 M&A

  • Representing a listed pharmacy company in its proposed acquisition of four hospital group companies (ongoing)
  • Representing a listed pharmacy company in its proposed acquisition of a prominent local F&B company (ongoing)
  • Representing PT Saka Energi Indonesia in its proposed structuring transaction (2018)
  • Acting as the counsel of several companies in Lippo group in its proposed divestment of assets or subsidiaries in several cities in Indonesia (2018)
  • Represented PT Bank JTrust Indonesia Tbk on a proposed acquisition of a financing company (2018)
  • Represented Lippo Malls Indonesia Retail Trust on the acquisition of 3 Indonesian malls located in Java and Bali (2016-2017)
  • Represented PT Elnusa Tbk for its internal restructuring program (2016-2017)
  • Represented a cement state-owned company on a proposed acquisition of a local cement company in Java (2017)
  • Represented the oldest South Korean insurance company on an acquisition bid of 39% stakes of PT Asuransi Bringin Sejahtera, amounting to US$600 million (2015 – 2016)
  • Represented an SGX-listed plantation company on a proposed acquisition of 27 plantation companies in Indonesia (2015)
  • Represented a Malaysian public company in the acquisition of a sweets producer company in Indonesia (2015)

 

State Owned Enterprises and Corporate Compliance

  • Representing and assisting Ministry of State-owned Enterprises and various State-owned Companies from the financial, infrastructure, housing, oil & gas, pharmaceutical and national defense and high technology industries (including but not limited to PT Hutama Karya (Persero), PT Jasa Marga (Persero) Tbk., PT Wijaya Karya (Persero) Tbk., PT Danareksa (Persero), PT Bank Mandiri (Persero) Tbk., PT Bank Rakyat Indonesia (Persero), Tbk., PT Bank Negara Indonesia (Persero), Tbk., PT Bank Tabungan Negara (Persero), Tbk., PT Waskita Karya (Persero) Tbk., PT Adhi Karya (Persero) Tbk., PT Pembangunan Perumahan (Persero) Tbk., PT Kimia Farma (Persero) Tbk., PT Indofarma (Persero) Tbk., PT Bio Farma (Persero), PT Perusahaan Pengelola Aset (Persero), PT Dirgantara Indonesia (Persero), PT Pindad (Persero), PT PAL (Persero)) for the proposed establishment of Indonesian State-Owned Holding Company (BUMN Holding Project) which will create the largest state-owned holding companies in Indonesia (ongoing).
  • Representing PT Perusahaan Gas Negara Tbk (PGN) for the establishment of State-Owned Holding Company for Oil & Gas (2018) (nominated as M&A Deal of the Year by Asian Legal Business – Thomson Reuters in 2018).
  • Advising PT Aneka Tambang (Persero) Tbk on various corporate compliance and governance matters (ongoing, 2019)
  • Advising PT Bank Tabungan Negara (Persero) Tbk on various corporate compliance and governance matters (ongoing, 2019)
  • Advising PT Kereta Api Indonesia (Persero) on various corporate compliance and governance matters (ongoing, 2019)
  • Advising PT Semen Baturaja (Persero) Tbk on various corporate compliance and governance matters (ongoing, 2017-2019)
  • Advising PT Hutama Karya (Persero) on various corporate compliance and governance matters (ongoing, 2018-2019)
  • Advising PT Waskita Karya (Persero) Tbk on various corporate compliance and governance matters (ongoing, 2018-2019)
  • Advising PT Telkom Indonesia (Persero) Tbk on various corporate compliance and governance matters (ongoing, 2018-2019)
  • Advising PGN on various corporate compliance and governance matters (ongoing, 2018-2019).
  • Assisting PT Jasa Marga (Persero) Tbk in its first-time legal audit for internal and regulation compliance (2018)
  • Advising and assisting PT Trisakti Purwosari Makmur, a subsidiary of Korean Tobacco & Ginseng Corporation for general legal compliance (2017-2018)
  • Advising and assisting PT Lippo Karawaci Tbk for good corporate governance practices, in particular the drafting of required charters for company’s committees (2015-2016)

 

General Corporate

  • Advising and assisting PT Bank Danamon Indonesia (Tbk) in relation to the bailout program during 1998 monetary crisis (2016)
  • Advising and assisting PT Bank JTrust Indonesia Tbk for their general corporate matter (2016-2017)

Public Speaking & Academic Activities

  • Speaker in legal workshop on “Alternative Financing Through Capital Market), by UMBRA – Strategic Legal Solutions (September 2018).
  • Speaker in legal workshop on “The Establishment of BUMN Holding from Capital Market Perspective” by Days of Law Career (DOLC) 2019 (February 2019).