Hiswara Bunjamin & Tandjung in association with Herbert Smith Freehills

Managing Partner: Tjahjadi Bunjamin

Number of partners, of counsel & senior international counsel (all based in Jakarta): 21

Number of other fee-earners: 61

International offices: 25 through the firm's formal association with global law firm Herbert Smith Freehills

Hiswara Bunjamin & Tandjung (HBT) and Herbert Smith Freehills have one of the closest and longest-standing international associations in the Indonesian legal market, working together to protect the interests of both foreign and local corporations and financial institutions investing and trading in Southeast Asia’s largest economy.

Since HBT was founded in 2000, this affiliation has gone from strength to strength, enabling the firm to provide integrated and seamless services, effectively operating as one firm across the region.

Its track record includes advising on some of Indonesia’s most ground-breaking transactions and projects, as well as representing clients in complex disputes, investigations and regulatory matters.

Corporate and M&A

HBT is one of the leading law firms for strategic and complex M&A involving Indonesia, regularly acting for leading corporates, financial institutions, private equity funds and other financial buyers on some of the biggest cross-border M&A deals across all major industry sectors. Recent highlights including advising:

• Singtel on the spin-off of Telkom’s fixed broadband business (IndiHome) into Telkomsel (a joint venture between Singtel and Telkom), with a potential total transaction value of US$3.9 billion (M&A Deal of the Year, Asian Legal Business Indonesia Law Awards 2023)
• CVC on its acquisition of a stake in Samator Indo Gas, a publicly listed industrial and medical gas company (Southeast Asia Best Private Equity Deal, FinanceAsia 2023)
• Jayamandiri Gemasejati (Yamaha's distributor in Indonesia) on the sale, along with other sellers, of their stakes in Mandala Multifinance to MUFG Bank and Adira Dinamika Multi Finance for US$470 million in one of the biggest financial services deals in Asia in 2023

Number of partners, of counsel and senior international counsel: 10

Number of other fee earners: 21

Dispute Resolution

HBT’s dispute resolution practice is recognised for its work with domestic and international clients in the most complex and significant contentious and cross-border matters. The team has market-leading expertise in civil litigation, domestic and international arbitration, criminal and corporate investigations, contentious employment, restructuring and insolvency, business competition, and private wealth disputes.Recent highlights including advising:

• a subsidiary of an Indonesian SOE on a successful Singapore-seated arbitration against Philippines conglomerates and ongoing enforcement of an award exceeding US$100 million
• a Malaysian SOE and its subsidiary in a successful Singapore-seated arbitration and ongoing enforcement of an award in Indonesia, Singapore and Malaysia exceeding US$700 million against two Indonesian conglomerates

Number of partners: 4

Number of other fee earners: 9

Finance

HBT is recognised for its capability in local and cross-border financing and debt restructurings in Indonesia. Representing many of the world’s major financial institutions and corporations, HBT acts on project and structured financings and security structures for Indonesian financings.Recent highlights including advising:

• Indonesia Investment Authority (INA) consortium on refinancing existing facilities to state-owned Hutama Karya from syndicated local banks for the Trans-Sumatra toll road
• Panca Amara Utama in a US$495 million term loan facility from BNI and Bank Mandiri to refinance an existing facility from IFC for its ammonia plant

Number of partners and of counsel: 3

Number of other fee earners: 12

Capital Markets

HBT represents many of the world’s leading investment banks, representing foreign arrangers and underwriters in Indonesia and handling onshore and offshore components of capital markets offerings.The practice covers the full range of capital markets transactions, including both equity and debt.Recent highlights including advising:

• Amman Mineral Internasional on its US$715 million IPO and listing on the IDX, in one of the largest IPOs in IDX history (Best IPO Southeast Asia, FinanceAsia 2023)
• BofA Securities, Credit Suisse, Deutsche Bank, HSBCand JP Morganas arrangers and underwriters of a switch tender offer by the Republic of Indonesia with a combined total tender and bond value of US$2.975 billion (Debt & Equity-linked Deal of the Year, IFLR Asia Pacific Awards 2023)

Number of partners: 2

Number of other fee earners: 9

Energy & Resources

HBT has one of the largest dedicated projects and energy teams in Indonesia. With deep relationships with major companies in the energy, resources and infrastructure sectors, the team has worked on the most significant M&A and financing matters in Indonesia, acting on complex mining, natural resources and infrastructure projects.Recent highlights including advising:

• Indonesia Investment Authority (INA) on its investment in the Bakauheni-Terbanggi Besar and Medan-Binjai toll roads in North and South Sumatra with a total enterprise value of ~US$1.3 billion (IJInvestor Transport Acquisition Award Asia Pacific 2023)
• Pertamina Rosneft Pengolahan dan Petrokimia on development of the US$15 billion Tuban grass root refinery and petrochemical complex

Number of partners and senior international counsel: 2

Number of other fee earners: 10