27 Nov 2023
ABNR Honored in Korea for Work on USD 711-million EV Battery Plant Financing Deal
We are pleased to share that an ABNR deal was recently named “Project Finance Deal of the Year” at the prestigious 2023 Asian Legal Business Korea Law Awards, which were presented at the Conrad Seoul hotel on Nov. 10.
The winning deal saw ABNR advise Australia & New Zealand Banking Group Limited (ANZ), as syndication lead lender, on the USD 711-million financing provided to the Hyundai Mobis Consortium for the development of their electric vehicle battery manufacturing project in Karawang, Indonesia. The Hyundai Mobis Consortium is an Indonesian joint venture established by Hyundai Motor Group and LG Energy Solution. The project's Korean sponsors comprise LG Energy Solution, Hyundai Mobis, Hyundai Motor Company and Kia Motor Company.
The lead partner for the deal was Mr. Emir Nurmansyah, who was assisted by partner Mr. Indra Setiawan, and senior associate Mr. Mochamad Riandi.