Tunggul has 20 years of legal experience and focuses his practice on capital markets, general corporate and M&A, and banking and finance. He regularly advises domestic and international companies across a variety of industries, including natural resources, energy, financial services, telecommunications, and private equity. In the capital markets sector, Tunggul’s reputation continues to grow, supported by his excellent track record in initial public offerings and bond issuances.

Tunggul has played a key role in a variety of transactions for AHP’s retainer clients, such as private equity houses Recapital (acquisitions, financings and refinancings, and asset disposals) and Northstar Group (acquisition), the Indonesian national flag carrier Garuda Indonesia (corporate and operational actions), telecommunication provider XL Axiata group (acquisitions), tower operator Tower Bersama Infrastructure Group (financing and corporate actions), palm oil plantation Provident Agro (corporate actions and acquisitions), petrochemical company Chandra Asri (acquisitions and debt refinancings) and the diversified Indonesian conglomerate Barito group (acquisitions).

Experience Highlight

  • Represented PT Medco International Tbk. on its IDR 1.5 trillion bond issuance and USD 20 million bonds issuance, which was a part of its USD 150 million bonds issuance.
  • Represented Merrill Lynch (Singapore) Private Limited as the lead joint arranger in relation to a USD 39.5 million and USD 239.5 million collateralised equity leveraged loan facilities for the purpose of the payment of debt and acquisition of PT Berau Coal.
  • Advised Neuroncredit Pte. Ltd and PT Triputra Investindo, in expanding its finance business in Indonesia, from originally only engaging in the fintech business, to also cover multi-finance business. The expansion was conducted by way of acquiring 100% of the issued shares of PT Mega Finadana, a company engaging in the multi-finance business. The shares acquisition resulted in a change of control, and consequently, required Neuroncredit to pass the Indonesia’s Financial Services Authority (OJK)’s Fit and Proper Test prior to closing.
  • Assisted PT XL Axiata Tbk. in its sale and lease back 196 and 150 picocells, respectively, to PT Dhost Telekomunikasi Nusantara. The sale of picocell by the client was done through a bidding process participated by several bidders, with each bidder having its certain terms and negotiation points.
  • Represented PT Mitra Pinasthika Mustika Tbk., in its initial public offering (IPO) through the issuance of 970 million new shares, which were offered in Indonesia pursuant to the Bapepam-LK rules and outside of Indonesia in reliance on Rule 144A/Reg.S. This IPO raised IDR 1.455 trillion.