Milbank, Tweed, Hadley & McCloy LLP advised PT Adaro Indonesia on its US$1,000,000 loan facility from a consortium of lenders including ANZ, BTMU, CIMB, Citi, CTBC, DBS, HSBC, ING Bank, Maybank, Mizuho Bank, OCBC, SMBC, Standard Chartered Bank and UOB. The loan will be used to refinance existing indebtedness of the company.
Adaro operates the largest single coal mine in Indonesia and is one of Indonesia’s most highly respected companies.
Singapore based David Zemans, Melissa Lewis and Cristy Cross, led the Milbank team in advising PT Adaro Indonesia.
Adaro is a long standing client of Milbank. In recent years, Milbank has had the privilege of advising Adaro on all of its major financings including Adaro’s US$800 million high-yield bond issuance, which was the first private sector 10-year bond. Milbank also advised Adaro on its US$950 million LBO and US$400 million high-yield debt offering among several others.
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