"Melli Darsa & Co is one of the best we have worked with in Indonesia," comments a client of the firm, which has received consistent praise for its well-established capital markets practice and solid M&A transactions, plus its strong track record in banking. "They are very commercially focused and are able to negotiate very well, as good as those international firms," says a client, who regards it as a "very high quality local firm"....
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"Melli Darsa & Co is one of the best we have worked with in Indonesia," comments a client of the firm, which has received consistent praise for its well-established capital markets practice and solid M&A transactions, plus its strong track record in banking. "They are very commercially focused and are able to negotiate very well, as good as those international firms," says a client, who regards it as a "very high quality local firm".
This year saw Melli Darsa & Co work on two rights issue deals – advising UBS as financial advisor on United Tractors' (a subsidiary of Astra International) $375 million issue, and acting for Asia Financial, a subsidiary of Temasek Holdings, in Bank Danamon's $390 million rights issue in April 2009.
Northstar Pacific is also consulting the firm on its subscription to $20 million mandatory exchangeable bonds issued by Delt Sarana Pradana. The bonds are exchangeable into shares in Trikomsel Oke, a distributor of a wireless communication and multimedia gadgets company in Indonesia.
Melli Darsa wins particular nomination from clients: "She has incredible understanding in law, especially banking law," says one. The firm advised Bank Mandiri on a Rp1.86 trillion ($183 million) investment loan facility and working loan capital facility to Darmex group for its plantation business. Bank Mandiri's credit recovery group also called on the firm in a debt restructuring deal for Bosowa group, which included a Rp1.6 trillion ($157 million) syndicated loan and a bilateral loan totalling $53 million.
Clients also point to Sugianto Osman, who is described as very practical and a good negotiator. "Osman is an excellent negotiator and can go toe-to-toe against any US or international lawyer in an M&A situation," a client notes.
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