News & Updates

HPRP Deals

HPRP Successfully Assisted in the Financing of PT Bandarudara Internasional Jawa Barat (Perseroda) for the Development of Kertajati International Airport

May 24, 2018

After successfully assisting with the first financing of PT Bandarudara Internasional Jawa Barat (Perseroda) (“PT BIJB”) last year, HPRP again successfully rendered legal assistance to a syndicate of 7 banks in the second financing of PT BIJB. The financing is aiming at the development of Kertajati International Airport in Majalengka, West Java.

In the second financing, the 7 banks involved are Bank Kalsel Syariah, Bank Jatim Syariah, Panin Dubai Syariah Bank, Bank Jambi Syariah, Bank Nagari Syariah, Bank Sumut Syariah, Bank Sumselbar Syariah, with Bank Jateng Syariah as the Mandated Lead Arranger. The banks granted loan facilities in the amount of Rp 650,000,000,000 to PT BIJB in the framework of the Musharaka sharia principle.

Similar to the first financing transaction last year, in this noteworthy transaction, HPRP rendered comprehensive legal assistance to the syndicate banks in the whole second financing process. Led by Partner, Chadri Jurnalis, who was assisted by Associate Lawyers Mika Isac Kriyasa, Peter Christopher, and Omar Syarief Smith, HPRP assisted the syndicated banks in preparing all documents required for the transaction, including agreement documents, security documents and other supporting documents, as well as arranging and representing clients in negotiations, regulatory compliance, and finalization of the facility.

PT BIJB is a local government owned enterprise, formed by West Java Provincial Government to manage, build, and develop the International Airport of West Java, Kertajati International Airport. Commemorating its initial operation, President Joko Widodo flew on the first airplane which landed at the new airport on May 24, 2018.

Earlier, HPRP had assisted with the first financing of PT BIJB by giving legal assistance to a syndicate of 7 banks (Bank Jateng Syariah, Bank Sumut Syariah, Bank Kalbar Syariah, Bank SulSelBar Syariah, Bank Jambi Syariah, Bank Jabar Banten Syariah and Bank Kalsel Syariah) which granted loan facilities in the amount of Rp 906,000,000,000 in the framework of the Musharaka sharia principle, with PT Sarana Multi Infrastructure (Persero) (“PT SMI”) as the mandated lead arranger.

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 partner in charge by email cjurnalis@hplaw.co.id or hplaw@hplaw.co.id for further details.