International law firm Sidley Austin recently represented Indonesian telecom company PT Indosat Tbk in obtaining US$228.5 million in financing to construct and launch a new satellite, the Palapa-D. The satellite is under construction by Thales Alenia France and will be launched into orbit by a Chinese launch vehicle manufactured by Beijing Talentway Technology Corporation.
The financing was arranged by The Hongkong and Shanghai Banking Corporation Limited and is being made available through two 12-year export credit facilities and a third nine-year commercial credit facility. Negotiation of the financing involved coordination with export credit agencies and suppliers in France and China.
The Sidley team was led by the managing partner of the firm's Singapore office, Edward D. (Tod) Eddy. PT Indosat is the second-largest telecom company in Indonesia. Fellow Sidley partner, Matthew Sheridan, who is based in the firm's Hong Kong office, has represented Indosat on several corporate finance transactions over the past 14 years.
Mr. Eddy commented, "We are very pleased to have represented PT Indosat on this transaction. It underlines our prime focus at Sidley, which is client service. Our services are distinguished by our ability to provide clients with seamless access to the wide array of skills and experience found among our lawyers throughout the firm, no matter where we are located."
