HONG KONG, May 22 /Xinhua-PRNewswire/ -- International law firm Sidley Austin advised J.P. Morgan Securities Limited and ING Bank, London Branch, as initial purchasers in connection with the issuance by Indo Integrated Energy B.V. of its US$250 million 8.50% Senior Notes due 2012. The Notes are guaranteed by the issuer's parent, PT Indika Inti Energi, a leading Indonesian energy conglomerate with a 46.0% equity interest in the third-largest coal mine in Indonesia. Sidley created a unique structure using customary high-yield covenants to capture the dividend stream from the minority-owned coal asset, which comprised an integral part of the credit.
The Sidley team was led by Jason T. Elder and Matthew Sheridan, partners in the corporate practice of Sidley's Hong Kong office. The team also included Carrie Li, Constance Chou, Stanley T. Ko, Xuemei Lu, Wendy Shen and Clara Wong in Hong Kong; Irving Rotter and Guilherme Ferraira (accounts structure) and Alex Gelinas and Brandon Holder (tax) in New York; and Manoj Purush in Singapore.
Sidley is one of the world's largest full-service law firms, with more than 1,700 lawyers practicing in 16 offices in Asia, Europe and the United States. Sidley is consistently ranked at the top of the Thomson Financial league tables.
For 2006, the firm was ranked as:
-- top issuer's counsel and third as underwriter's counsel for U.S. debt,
equity and equity-related offerings;
-- top issuer's counsel and top underwriter's counsel for U.S. investment
grade debt; and
-- top issuer's counsel and third underwriter's counsel for U.S. straight
debt, including asset-backed and mortgage backed securities.
In Asia, lawyers in the corporate finance team advise clients on U.S., Hong Kong and English law in connection with all types of equity, debt and equity-linked transactions, including SEC-registered offerings in the United States, international securities offerings pursuant to Rule 144A and Regulation S governed by U.S. and English law, The Stock Exchange of Hong Kong Main Board and Growth Enterprise Market (GEM) listings, and issuances involving the creation of ADR or GDR programs.
In 2005, Sidley ranked first in relation to the number of transactions advising issuers and first (tied) in relation to the number of transactions advising underwriters for listings on The Stock Exchange of Hong Kong Mainboard. (Asian Legal Business, Jan 2006).
In 2006, Sidley was named to Legal Business' Global Elite, their survey of "the 15 finest law firms in the world."
For purposes of the New York State Bar rules, this press release may be considered Attorney Advertising and the headquarters of the firm are Sidley Austin LLP 787 Seventh Avenue, New York, NY 10019, 212.839.5300 and Sidley Austin LLP One South Dearborn, Chicago, IL 60603, 312.853.7000. Prior results described herein do not guarantee a similar outcome.
