Tumbuan & Partners (“T&P”) had the honour of assisting PT Usaha Pembiayaan Reliance Indonesia in their Shelf Bonds issuance offering by the name “Penawaran Umum Obligasi I REFI Tahun 2022” with a targeted funds of up to IDR400,000,000,000.
PT Usaha Pembiayaan Reliance Indonesia is a financing company subject to the regulations of the Non-Bank Financial Industry section of the Indonesian Financial Services Authority (OJK). Therefore, this transaction involves two divisions within the OJK, namely the Non-Bank Financial Industry division which supervises PT Usaha Financing Reliance’s business activities and the Capital Market division which reviews its corporate actions, in this case, provides an effective statement letter for issuing the bonds.
The proceeds of the bonds are intended to repay the issuer’s Medium Term Notes IV B which aggregated to IDR200,000,000,000 and to increase its financing portfolio.
T&P team was led by Rita Meirina, and assisted by Jennifer E. Sopacua with the full support of other members of T&P.
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