Tracy Tania

Tracy Tania

Tracy is a senior associate in the firm who focuses on our restructuring and insolvency as well as cross border financing transactions. Since commencing her practice, she has naturally gravitated towards Banking & Finance and Project Finance -- areas of the law that she says provide her with the sort of challenges she relishes. She was involved in significant projects, among others, IDR 8.8 trillion syndicated financing to PT Lintas Marga Sedaya, holder of Cikampek-Palimanan toll road concession, and a numerous power projects, both in non-renewable and renewable sectors.

In cross border financing transactions, with an 8-year experience, Tracy is a well-rounded lawyer with the ability to represent the interest of the lenders and borrowers. Her key clients include PT Indonesia Infrastructure Finance, for whom she has represented in several USD and JPY loan financings from multilateral organisations such as the Asian Development Banks, World Bank, International Finance Corporation, and Japan International Cooperation Agency. Her other key clients include an oil and gas company, PT Rukun Raharja Tbk, for whom she advised in acquiring a company that indirectly holds a participating interest in Cepu block and financing for such acquisition, and PT Bumi Suksesindo, for whom she has advised on several financing transactions.

Recently, Tracy shifted her focus more in expanding the firm's restructuring and insolvency deals. She played a key role in the complex restructuring of a subsidiary of Indonesian energy and mining company PT ABM Investama Tbk, PT Sumberdaya Sewatama's debts involving unsecured bilateral loans, IDR bonds (conventional and sharia) and lease facility. She has also recently assisted in PT Bank Danamon Indonesia Tbk in the sale of its non-performing loan portfolios.
 

Qualifications

  • L.LB., University of Indonesia, Indonesia
  • L.LM., New York University, USA
     

Notable Cases & Transactions

Banking & Finance

  • Representing an Indonesian bank in the proposed purchase of another Indonesian bank's business (aborted);
  • Representing PT Indonesia Infrastructure Finance (“IIF”) in a proposed US$ 200 million financing from the Asian Development Bank through the Government of Indonesia and PT Sarana Multi Infrastruktur (Persero);
  • Representing IIF in the JPY 8 billion financing from Japan International Cooperation Agency;
  • Representing IIF in a proposed US$ 200 million financing from World Bank through the Government of Indonesia and PT Sarana Multi Infrastruktur (Persero);
  • Representing PT Rukun Raharja Tbk in the acquisition and acquisition financing of PT DSME Energi Cepu, a 49% shareholder in PT Petrogas Jatim Utama, holder of 2,2423% in Cepu block;
  • Representing PT Bumi Suksesindo, a gold and copper mining company, in the US$200 million refinancing from a group of banks;
  • Representing PT Agro Maju Raya and its group of plantation companies in the IDR 1,1 trillion and US$28 million credit facilities from a group of banks;
  • Representing Star Energy Geothermal (Wayang Windu) Limited in its US$ 660 million bonds refinancing;
  • Representing Star Energy Geothermal (Wayang Windu) Limited in its US$1,2 billion acquisition financing;
  • Representing a subsidiary of an Indonesian listed company on its debt restructuring;
  • Representing PT Triputra Agro Persada group in the eq. US$ 494 million financing from a group of banks, coordinated by Oversea-Chinese Banking Corporation Limited;
  • Representing BNP Paribas, Singapore Branch, CIMB Bank Berhad, Singapore Branch, and Standard Chartered Bank, Singapore Branch in a S$ 180 million financing to HSBC Institutional Trust Services (Singapore) Limited in its capacity as trustee to Lippo Malls Indonesia Retail Trust;
  • Representing Oversea-Chinese Banking Corporation Limited and PT Bank OCBC NISP Tbk in a US$ 350 million financing to the parent of an Indonesian coal-mining company;
  • Representing PT Chandra Asri Petrochemical Tbk in a US$ 265 million financing from a group of banks, including Bangkok Bank;
  • Representing PT Garuda Indonesia (Persero) Tbk in relation to US$200 million multi-currency credit facilities from syndicated banks to finance corporate expenditures of Garuda and its subsidiaries, including for pre-delivery payment;
  • Representing PT Reswara Minergi Hartama in connection with a US$150 million loan facility from a syndication of banks comprising of Indonesia Eximbank, PT Bank QNB Kesawan Tbk and Qatar National Bank SAQ Singapore Branch;
  • Counsel to IIF, a joint venture between the Indonesian Government, International Finance Corporation, Asian Development Bank, and Deutsche Investitions- und Entwicklungsgesellschaft mbH in developing standard documentation for infrastructure financing;
     

Restructuring and Insolvency

  • Representing PT Bank Danamon Indonesia Tbk in the sale of its non-performing loan portfolios;
  • Representing PT Sumberdaya Sewatama in the restructuring of about USD134 million equivalent of its unsecured bilateral loans, IDR bonds (conventional and sharia) and lease facility.
     

Project Finance

  • Representing a group of banks in the proposed financing of Jawa 9 & 10 coal fired steam power plant in Banten, Indonesia.
  • Representing a group of banks in the US$ 147 million financing of a hydroelectric power plant project in North Sumatera, Indonesia;
  • Representing a group of banks in the US$ 191 million financing of a hydroelectric power plant project in Lampung, Indonesia;
  • Representing one of the biggest China banks in the US$ 1,200,000 financing of mine-mouth coal-fired power plant project in Indonesia;
  • Representing IIF in the IDR 8.8 trillion financing from a group of banks and financial institutions to finance Cikampek-Palimanan Toll Road project;
     

Sharia Finance

  • Representing Garuda in relation to US$100,000,000 Musyarakah financing from PT Bank Internasional Indonesia (BII) to finance corporate expenditures of Garuda and its subsidiaries, including for pre-delivery payment;
  • Representing Garuda in relation to US$200,000,000 Islamic financing facility from syndicated banks;
  • Representing The Hongkong and Shanghai Bank Limited, J.P. Morgan Securities Ltd, and Standard Chartered Bank in the issuance of sharia bonds by the Government of Indonesia.
     

General Corporate

  • Retainer corporate counsel to IIF;
  • Representing IIF in the proposed amendments of its corporate documents;
  • Retainer corporate counsel to PT Supreme Energy.
     

Arbitration

  • Representing subsidiaries of an Indonesian state-owned company on a proposed enforcement of SIAC and BANI arbitral awards;
  • Advising an Indonesian foundation on a proposed SIAC arbitration.

 

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