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Bono Daru Adji

Senior Partner, Assegaf Hamzah & Partners

Practice Area:

Capital Markets
Mergers & Acquisitions

Bachelor of Law Degree, Trisakti University, Jakarta (1993)
LLM, Monash University, Melbourne, Australia (1995)

T +62 21 2555 7878

With more than twenty years of experience working in the legal sector in Indonesia, Bono has developed a reputation for being at the cutting edge of Indonesian commercial law. 

Bono focuses his practice on mergers and acquisitions and capital markets.

In the banking and finance arena, Bono earned his spurs the hard way during the 1997/1998 Asian financial crisis. Among the significant mandates he worked on at that time were advising Bank Danamon and the Indonesian Bank Restructuring Agency (IBRA) on the merging of nine major domestic banks that were in danger of collapsing.

In his capital markets practice, Bono has been intimately involved in a long list of high-profile public offerings, including those of PT Garuda Indonesia Tbk, PT Berau Coal Energy Tbk, PT Tower Bersama Infrastructure Tbk, PT Bank Tabungan Negara (Persero) Tbk, PT ElnusaTbk and PT Bank Tabungan Pensiunan Nasional Tbk (BTPN). His recent clients included PT Medco Energy International Tbk., in the issuance of USD 500 million senior notes in reliance on Rule 144A/Reg. S under the U.S. Securities Act, PT Merdeka Copper Gold Tbk, in its initial public offering (IPO), and PT Saratoga Investama Sedaya Tbk, in its IPO.

Meanwhile, in the mergers and acquisitions arena, Bono has represented prominent multinational corporations, as well as large Indonesian corporates, including Coca-cola Beverages Asia Holdings Sarl, and the leading Indonesian telecommunications provider XL, in its purchase of 100% of the share capital of AXIS from Teleglobal Investments B.V. Most recently, Bono represented AKAB, an Indonesian technology company and Go-Jek’s services operator, in its direct and indirect investment in the Indonesian joint venture entities of


  • Advised PT Bank Tabungan Pensiuan Nasional (“BTPN”) in its complex merger with PT Bank Sumitomo Mitsui Banking Corporation Indonesia in which BTPN being the surviving bank. This was the first merger involving banking institutions to be conducted under the most recent merger regulation issued by Indonesia’s Financial Services Authority (OJK).
  • Represented PT Royal Industries Indonesia (“RII”) in relation to suspension of payment proceedings before the Central Jakarta District Court - Commercial Court. The matter also involved assisting RII in the negotiation with creditors as well as drafting and finalizing the settlement agreement.
  • Assisted PT Indonesia AsahanAluminium (Persero) (“Inalum”) to issue (i) USD 1 billion three-year notes at 5.230% due 2021, (ii) USD 1.25 billion five-year notes at 5.710% due 2023, (iii) USD 1 billion 10-year notes at 6.530% due 2028, and (iv) USD 750 million 30-year notes at 6.757% due 2048. Proceeds from the bonds were used to fund the acquisition of a majority stake in PT Freeport Indonesia, concessionaire of the largest gold mine and the second largest copper mine in the world, by the Republic of Indonesia through Inalum. This deal awarded Debt Market Deal of the Year from ALB Indonesia Law Awards 2019.
  • Assisted the Republic of Indonesia and the Issuer in the issuance of world’s first Green Sukuk bond – US$ 1.25 billion 5-year and US$ 1.75 billion 10-year Reg S / 144A Trust Certificates due in 2023 and 2028, respectively. These securities are part of the Sukuk Wakalah issuance programme. This deal awarded Indonesia Deal of the Year and Sovereign (global) Deal of the Year: First ever sovereign green sukuk from IFN Awards 2019, and Debt Market Deal of the Year from ALB Indonesia Law Awards 2018.
  • Acted as the Indonesian legal counsel for the Republic of Indonesia in the successful issuance of Government Samurai Bonds, which comprised of four series. It is the first time that the bonds were issued using the Japanese Shelf Registration scheme.
Memberships / Directorships
  • Member of the Indonesian Bar Association (Peradi)
  • Member of the Steering Committee of the Indonesian Capital Market Legal Consultants Association (HKHPM)
  • Member of the Indonesian Aviation Law Society (Masyarakat Hukum Udara)