Indonesia

Active since 1967, Ali Budiardjo Nugroho Reksodiputro (ABNR) is one of Indonesia’s largest and longest established firms. It maintains an office in Jakarta and boasts exclusive Indonesian membership of Lex Mundi since 1991. Additionally, the firm is the exclusive Indonesia reporter for the International Swaps and Derivatives Association.  

The firm is best known for its banking and projects finance work and has strong offerings in capital markets, M&A, project development and restructuring.  

 Highlights  

Recent examples of the firm’s deal work include advising a consortium of aircraft lessors, manufacturers and key aviation creditors, holding nearly 50% of the total debt, in the court-supervised restructuring of PT Garuda Indonesia (Persero). This engagement was the largest court-sanctioned restructuring in Indonesian history by asset value and creditor participation, establishing it as one of Southeast Asia's most significant debt restructurings.  

Other highlights include advising the International Finance Corporation on its innovative investment in Indonesia's GoTo Gojek Tokopedia. By creating separation between bondholders and GoTo except at enforcement, the deal required groundbreaking analysis of corporate, securities and bankruptcy implications for assetless special purpose vehicles. This landmark transaction establishes a new template for complex cross-border fintech financing.  

 Key clients  

China Merchants Port Holdings Company, KK Group Company Holdings, Yamato Kogyo (Japan), Top Global, Columbia Asia Healthcare, Ningbo Contemporary Brunp Lygend, and Kawasaki Kisen Kaisha (K Line). 

 Testimonials  

Capital markets  

“Expertise in Indonesia regulatory space.”  

M&A  

“Expert and up to date regarding the regulations in Indonesia. Very attentive team that will be able to cope with the requirements from overseas legal counsellors.”  

Project finance  

“ABNR is thoughtful and considerate of issues facing lenders and in highlighting the possible downside risk. They don't cut corners and do not oversimplify the issues.”  

Novario Asca Hutagalung  

“Very attentive in meeting the requirements of the various overseas legal counsels at the given timeline.”  

Emir Nurmansyah  

“Careful and detailed consideration of downside risk.”  

“Knowledge and expertise.”