"Melli Darsa & Co is the 'go-to-firm' for capital markets and securities", says one client. For the past year the capital markets team has advised on numerous high profile debt and equity offerings or private placements and has constantly proved it is "second to none in capital markets", according to one rival partner....
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"Melli Darsa & Co is the 'go-to-firm' for capital markets and securities", says one client. For the past year the capital markets team has advised on numerous high profile debt and equity offerings or private placements and has constantly proved it is "second to none in capital markets", according to one rival partner.
Lead partner Melli Darsa is labelled by fellow peers as "the pillar for capital markets in Indonesia" and she is ably supported by Sugianto Osman. "He's a good operator with strong all around knowledge," comments one rival partner.
The firm is currently representing the largest Indonesian oil company, state owned PT Pertamina (Persero) on its conversion to a "non listed public company". As part of the reformation in Indonesia, the Government is trying to make the company more transparent to the public.
Another highlight saw the team advise PT Indofood CBP Sukses Makmur (ICBP) on its IPO, noted by the Director of the Indonesian Stock Exchange as the biggest capitalisation on the exchange last year.
The firm also advised on the merger of PT Bank OCBC NISP (OCBC NISP) and PT Bank OCBC Indonesia (OCBC). The merger will take advantage of OCBC NISP's strength in the consumer and commercial segments and OCBC's focus on foreign multinational corporates. This complex deal requires not only the approvals of the Indonesian authority, particularly in the case of OCBC NISP as a publicly listed bank, but also approval from the Monetary Authority of Singapore.
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Melli Darsa & Co is considered a powerhouse in the Indonesian banking and finance field, as clients have "total belief that transactions will be handled well", says the partner of a rival law firm.The team advised HSBC, Jakarta Branch and six other banks (including Bank of Tokyo Mitsubishi and Bank of China), with a total commitment of $250 million, in an unsecured syndicated term loan facility to PT Transportasi Gas Indonesia, the wholly owned subsidiary of publicly listed PT Perusahaan Gas Negara (Persero)....
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Melli Darsa & Co is considered a powerhouse in the Indonesian banking and finance field, as clients have "total belief that transactions will be handled well", says the partner of a rival law firm.
The team advised HSBC, Jakarta Branch and six other banks (including Bank of Tokyo Mitsubishi and Bank of China), with a total commitment of $250 million, in an unsecured syndicated term loan facility to PT Transportasi Gas Indonesia, the wholly owned subsidiary of publicly listed PT Perusahaan Gas Negara (Persero).
This transaction was different to a conventional syndication loan agreement as the parties broke the syndication agreement into two sets of agreements: a term loan and the inter-creditors agreement.
Another landmark transaction for the firm was completing the loan restructuring of the three companies under Raja Garuda Mas Group: PT Riau Andalan Pulp & Paper (RAPP), PT Riau Prima Energi (RPE) and PT Riau Andalan Kertas (RAK).
The deal involved a $1.1 billion loan extension to a group of companies. The debt restructuring process began in 2006 with the execution of a Principal Agreement between all debtors and creditors.
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