News & Updates

HPRP Deals

HPRP Successfully Assisted in Sharia and Conventional Financing Transaction for a Syndicate of 6 Leading Banks

January 24, 2018

HPRP successfully provided legal assistance in a transaction financing PT Energi Nusantara Perkasa (“PT ENP”), a natural gas processing company. Using two methods, the transaction involved three banks for the conventional financing transaction: PT Bank Maybank Indonesia Tbk (as the facility agent), PT Bank Danamon Indonesia Tbk, Raiffeisen Bank International A.G., and three banks for the sharia Musyarakah Mutanaqisah financing transaction: PT Bank Syariah Mandiri (as the sharia agent), PT Bank Muamalat Indoensia Tbk., and PT Bank Maybank Indonesia Tbk.

The transaction’s aim was to restructure the financing of PT ENB under a facility agreement from 2013 worth the significant amount of USD 80,500,000 in the conventional transaction and USD 50,978,458 in the sharia transaction.

In this significant transaction, HPRP team was led by Partner, Chadri Jurnalis, and included Mika Isac Kriyasa, Dinda Karina, Aditya Parlindungan Pratama Sitanggang, Peter Christopher, and Rafisya Kamilia Yani, assisting the syndicated banks in preparing and negotiating agreements related to the syndicated facilities to be entered between PT ENP and the syndicated banks, reviewing the corporate documents of PT ENP, providing a legal opinion on the validity and enforceability of the transaction documents, providing legal advice on various aspects related to the syndicated facilities, the rules and regulations in Indonesia as well as ensuring that all the procedures implemented are compatible and in compliance with the prevailing laws and regulations in Indonesia.

HPRP’s financial services practice group has been successfully assisting in many financial transactions, conventional and sharia, local and international. Recently the team has assisted in various transactions related to infrastructure, natural resources, and real property. Please contact the the partner in charge by email or for further details.