Paul Hastings Advises UBS on High-Yield Bond Offering by PT Pakuwon Jati

December 21, 2006

Paul Hastings Advises UBS on High-Yield Bond Offering by PT Pakuwon Jati

Hong Kong (December 21, 2006) - Paul, Hastings, Janofsky & Walker (Paul Hastings), a leading international law firm, represented UBS, which acted as the underwriter of an offering of US$110 million high-yield senior secured notes by PT Pakuwon Jati. PT Pakuwon Jati, which develops large-scale combined commercial and residential properties in both Surabaya and Jakarta, Indonesia, sold the bonds, which have a 5-year maturity to international investors to fund a new development project and repay existing debt.

Joe Sevack, Corporate partner at Paul Hastings commented, "Paul Hastings is very pleased to have advised UBS on this challenging but ultimately very successful transaction. Indonesia continues to be a very active market in the high-yield sector. "

The Paul Hastings team was led by partner Joe Sevack and counsel Andrew Hutton with assistance from associates Winnie Lai and Frankie Tong.

Paul Hastings Janofsky & Walker, founded in 1951, is a leading international law firm with over 1,100 lawyers in 18 offices. The firm serves a diverse client base including many of the top financial institutions and Fortune 500 companies, supports clients in all of their legal needs and offers deep capabilities in Banking and Finance, Capital Markets, Corporate/M+A, Litigation and Dispute Resolution, Intellectual Property, Project Finance, Investment Management, Real Estate, Labor and Employment and Tax Advisory Services. For additional information, please visit our website at www.paulhastings.com.