Norton Rose (Asia) LLP , the international legal practice, has advised United Overseas Bank Limited and Oversea-Chinese Banking Corporation Limited as programme coordinators to a US $2 billion loan debt programme to PT Tower Bersama Infrastructure and its operating companies. The transaction closed at the end of October 2010.
Tower Bersama is one of the largest independent telecommunication tower companies in Indonesia providing telecommunications infrastructure and site services to wireless operators across the country. The debt programme will be made available through separate series.
Yu-En Ong banking partner, Singapore commented:
“’This is one of the largest financings of its kind in Indonesia to date and, with the incumbent operators in Indonesia looking to step up their tower sales programme to raise capital, Tower Bersama’s timing is looking very astute. I have no doubt that we will see further rapid growth in the tower sector in Indonesia over the next few years.”
The Norton Rose (Asia) LLP team was led by banking partner Yu-En Ong assisted by Of Counsel Selene Tan and senior associates Matthew Escritt and James Atkinson together with associate Jane Cheong.
Hadiputranto, Hadinoto & Partners advised the programme coordinators on Indonesian law.
Mallesons Stephen Jaques and Assegaf Hamzah & Partners advised Tower Bersama.
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