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HPRP Successfully Represented A Bank Syndicate in the Sharia Financing of PT Bandarudara Internasional Jawa Barat

June 16, 2017

HPRP successfully assisted a syndicate of 7 banks in the financing of PT Bandarudara Internasional Jawa Barat (“PT BIJB”). The 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, granted loan facilities in the amount of Rp 906,000,000,000 to PT BIJB in the framework of Musharaka sharia principle, with PT Sarana Multi Infrastructure (Persero) (“PT SMI”) as the mandated lead arranger.

In this major transaction, HPRP was appointed to provide comprehensive legal assistance to the banks in the syndicate in the whole financing process. Led by Partner, Chadri Jurnalis, who was assisted by Mika Isac Kriyasa (Senior Associate) and Peter Christopher (Associate), HPRP assisted the syndicated banks in preparing all documents needed in the transaction, including agreement documents, security documents and other supporting documents, as well as arranging the negotiations, regulatory compliance, and finalization of the facility.

The facility agreement was signed in Bandung, West Java (13/6), attended by the Governor of West Java, Directors and Commissioners of PT BIJB, and representative of banks in the syndication.

PT BIJB is a local government owned enterprise, formed by the West Java Provincial Government to manage, build, and develop the International Airport of West Java. PT SMI is a state-owned enterprise supporting the Government’s infrastructure development by facilitating infrastructure financing as well as preparing projects and serving advisory for infrastructure projects in Indonesia and through partnerships with private and/or multilateral financial institutions in Public-Private Partnership (PPP).

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 partner in charge by email or for further details.