LAWFUEL – Legal Announcement Service – Singapore: Leading law firm Clifford Chance has advised the Export-Import Bank of China on a US$615 million financing for PT Perusahaan Listrik Negara (PLN), Indonesia’s state electricity company.
The Indonesian government guaranteed the 15-year loans. The funding will build two new power plants in Java that will greatly increase PLN’s power generation capacity.
These are the first Indonesian government-guaranteed loans to be signed in the country. The government had previously issued support letters for PLN’s purchase obligations under its power purchase agreement.
Singapore-based partner Ting Ting Tan advised the Export-Import Bank of China.