Latham Advises on Two Asia “Deals of the Year”


April 21, 2015

Latham & Watkins advised on two 2015 “Deals of the Year” in IFLR’s 2015 Asia Awards, which honor legal innovation across the most significant international deals in the Asia-Pacific region. Latham advised on the take-private of Beijing-based Pactera Technology International and the financing of the Indonesia-based Sarulla Geothermal Power Project.

Both financings required highly sophisticated, integrated representation by a cross-border legal team. Notably, the Pactera deal was Asia’s first leveraged buyout to be financed directly through a high yield bond. The US$1.17 billion financing for Sarulla — which, when completed, will be the largest geothermal power project in the country to date — was a complex undertaking that combined a JBIC direct loan, commercial bank loans that benefit from an extended political risk guarantee provided by JBIC (US$329 million), an ADB direct loan funded from its ordinary capital resources (US$250 million), and two concessional climate funds that ADB administers.

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