MAGNAAR represented Bank Syariah Indonesia and Bank Muamalat in providing Rp 2.5 trillion syndicated Musyarakah Mutanaqisah (MMQ) financing facility made available to Mitratel. The MMQ financing facility provided by the syndication will be used by Mitratel for refinancing purposes of its towers and telecommunication infrastructure assets to support infrastructure development and accelerate national digitalization in Indonesia. Bank Syariah Indonesia was formed via a merger between three state-owned sharia banks, is ranked the seventh largest bank in Indonesia in terms of assets and the largest bank syariah bank in Indonesia. Bank Muamalat is the first sharia commercial bank in Indonesia. Mitratel is the largest independent tower telecommunication company in Southeast Asia and included in the top 30 stocks in the Jakarta Islamic Index (JII).
The MAGNAAR teams for this transaction include Sahid Ramadian, Suci A. E. Mandiri, Azarine M. Onassis, and Rangga Rahman.
You can find out more about his transaction in the following article (in Indonesian language) here: https://finansial.bisnis.com/read/20221219/90/1610065/bank-syariah-indonesia-bris-pimpin-pembiayaan-sindikasi-rp25-triliun-untuk-mitratel-mtel