The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Highly commended Asian deal of the year 2013: Pertamina

Pertamina’s $965 million term loan
Mandated lead arrangers DBS, ANZ, BTMU, Mizuho, RBS, OCBC Bank, Sumitomo Mitsui Banking Corp, HSBC
return to the Deals of the Year 2013 index

The largest integrated oil and gas producer in Indonesia is government owned and is also the de facto owner of all oil and gas reserves across the country.

Eight banks acted as underwriter, mandated lead arranger and bookrunner on the syndication of Pertamina’s five-year $965 million syndicated facility.

The transaction was initially sized at $602 million but was subsequently upsized to $965 million following an enthusiastic response from bank investors during the book-building process. The additional funds were for general corporate purposes, capital expenditure and working capital.

In spite of the challenging terms and pricing, 21 banks registered commitments and the transaction will also help to attract Taiwanese liquidity for Indonesian deals.

In comparison to Pertamina’s two previous deals, the terms were seen as difficult. This was particularly so because the deal came in the immediate aftermath of the European liquidity crisis.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree