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 2021 as a Rising Star in Capital Market.
  • 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 (focusing on public companies).

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 PLN (Persero) (“PLN“) in its offering of Rp30 trillion bonds and Ijarah Sukuk as part of its 2020-2022 shelf offering program (Penawaran Umum Berkelanjutan) (2020-2022).
  • Representing a prominent real estate company in its proposed Initial Public Offering process (ongoing).
  • Representing a state-owned telecommunication company in its offering of bonds as part of its continuous local bonds offering (ongoing).
  • Representing a state-owned construction company in its offering of Senior Notes (ongoing).
  • Representing a construction company in its proposed transfer of buyback shares (ongoing).
  • 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 Jasa Marga (Persero) Tbk in its offering of Commercial Paper with a maximum value of Rp500 billion (2020).
  • Representing PT Natura City Developments Tbk. in its initial public offering of Rp312 billion and pre-IPO restructuring program (2018)
  • Representing PT PLN (Persero) 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 major gas company in its proposed acquisition of a renowned electricity company (ongoing).
  • Representing PT Kereta Api Indonesia (Persero) in its cooperation and partnership with PT Jakarta Propertindo (Perseroda) for the establishment of DKI Jakarta Transportation Holding Company which will fully integrate the DKI Jakarta mass rail transportation (ongoing).
  • Representing PT Perusahaan Gas Negara Tbk in its proposed US$2.8 billion acquisition of PT Pertamina Gas (a subsidiary of PT Pertamina (Persero)) (2018) (nominated as M&A Deal of the Year by Asian Legal Business – Thomson Reuters in 2018).
  • Representing an infrastructure company in its proposed acquisition of steel manufacturing companies (2019-2020).
  • 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, PT Rajawali Nusantara Indonesia (Persero), PT Pertani (Persero), PT Perikanan Nusantara (Persero), Perum Perikanan Indonesia, PT Sang Hyang Seri (Persero), PT Bhanda Ghara Reksa (Persero), PT Perusahaan Perdagangan Indonesia (Persero), PT Berdikari (Persero), and PT Garam (Persero) for the proposed establishment of Indonesian State-Owned Food Holding (ongoing).
  • Representing and assisting Ministry of State-owned Enterprises, PT Barata Indonesia (Persero), PT Boma Bisma Indra (Persero), PT Dok Perkapalan Kodja Bahari (Persero), PT Dok Perkapalan Surabaya (Persero), PT Industri Kapal Indonesia (Persero), and PT Rekayasa Industri for the proposed establishment of Indonesian State-Owned Manufacture Holding (ongoing).
  • Representing and assisting Ministry of State-owned Enterprises, PT Bio Farma (Persero), and PT Industri Nuklir Indonesia (Persero) for the establishment of Indonesian State-Owned Pharmaceutical Holding Phase II (ongoing).
  • Representing and assisting Ministry of State-owned Enterprises, PT Len Industri (Persero), PT Dirgantara Indonesia (Persero), PT Dahana (Persero), PT PAL Indonesia (Persero), and PT Pindad (Persero) for the proposed establishment of Indonesian State-Owned Defence Industry Holding (ongoing).
  • Representing and assisting Ministry of State-owned Enterprises, PT Hotel Indonesia Natour (Persero), PT Patra Jasa (Persero), PT Pegadaian (Persero), PT Aero Wisata, and PT Wijaya Karya Realty for the proposed establishment of Indonesian State-Owned Hotel Holding (ongoing).
  • Representing and assisting Ministry of State-owned Enterprises, Perum Perumnas, PT Pembangunan Perumahan (Persero) Tbk, PT Wijaya Karya (Persero) Tbk, PT Amarta Karya (Persero), PT Indah Karya (Persero), PT Virama Karya (Persero), and PT Bina Karya (Persero) for the proposed establishment of Indonesian State-Owned Housing Holding (ongoing).
  • Representing and assisting Ministry of State-owned Enterprises, PT Perusahaan Pengelola Aset (Persero), PT Nindya Karya (Persero), PT Primissima (Persero), PT Industri Sandang Nusantara (Persero), PT Istaka Karya (Persero), PT Semen Kupang (Persero), PT Industri Gelas (Persero), PT Kertas Leces (Persero), PT Kertas Kraft Aceh (Persero), and PT Survai Udara Penas (Persero) for the proposed establishment of Indonesian State-Owned Asset Management Holding (ongoing).
  • Representing and assisting Ministry of State-owned Enterprises, PT Hutama Karya (Persero), PT Jasa Marga (Persero) Tbk, PT Waskita Karya (Persero) Tbk, PT Adhi Karya (Persero) Tbk, and PT Wijaya Karya (Persero) Tbk for the proposed establishment of Indonesian State-Owned Infrastructure Holding (ongoing).
  • Representing and assisting Ministry of State-owned Enterprises, PT Bio Farma (Persero), PT Kimia Farma Tbk, and PT Indofarma Tbk for the establishment of Indonesian State-Owned Pharmaceutical Holding (2020).
  • 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).