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HPRP was Appointed to Assist Jasa Marga in the First Future Revenue Based Securities Transaction for Toll Roads in Indonesia

August 24, 2017

Recently, PT Jasa Marga (Persero) Tbk. announced of the Future Revenue Based Securities (FRBS) for corporate funding. In this transaction, PT Jasa Marga (Persero) Tbk issued a Surat Berharga based on its future revenue of Jakarta-Bogor-Ciawi toll road, with a maximum value of IDR 2.6 trillion. This Surat Berharga will be the asset of a collective investment contract of asset-backed securities which obtained an effective letter from OJK on August 10, 2017.

HPRP was appointed to assist the corporation in this first FRBS transaction for toll roads in Indonesia. Led by Partner, Erwin K. Winenda, the HPRP Capital Market team was requested to provide comprehensive legal assistance in the whole transaction.

FRBS are one of the alternatives being used by the Indonesian government for financing infrastructure development. In addition to the financing of toll road construction by PT Jasa Marga (Persero) Tbk, FBRS are also being used by PLN for its infrastructure development in the power sector.

HPRP’s capital market group, under the financial services practice group, has been successfully assisting in many financial transactions, both local and international. Please contact erwin.winenda@hplaw.co.id or hplaw@hplaw.co.id for further details.