Defina advises underwriters and issuers on a wide range of international debt capital market transactions, including standalone offerings, programme establishment and liability management exercises under Rule 144A and Regulation S, in both the investment-grade and high-yield spaces. She also advises national and international investment banks, funds and other financial institutions on financial services regulatory (FSR) issues in Indonesia. 

Defina has advised: 

• Bank of America Merrill Lynch, Credit Suisse, Deutsche Bank, HSBC and JP Morgan as dealer managers in the Republic of Indonesia's inaugural switch tender offer of its SEC-registered bonds  
• Bank of America Merrill Lynch, Citigroup, Crédit Agricole, HSBC and UBS as underwriters on the Republic of Indonesia’s inaugural sustainable development  goal (SDG) bond issuance in the amount of US$1.25 billion and €500 million, registered with the Securities Exchange Commission
• Barclays, Credit Suisse, DBS and Deutsche Bank as the underwriters on the issuance of US$1.1 billion green bonds by Star Energy Geothermal Salak, Ltd. and Star Energy Geothermal Darajat II Limited – the first investment-grade corporate green bonds to be issued out of Indonesia
• The underwriters on the establishment and drawdowns under the Indonesian state electric company (Perusahaan Listik Negara)'s US$15.0 billion global medium-term note programme 
• Wijaya Karya, a state-owned construction company, on the issuance of Rp.5.4 trillion Komodo bonds - one of only two Komodo bond issuances coming out of Indonesia, and the largest to date  
• Barclays and HSBC as the underwriters on the issuance of US$2 billion in project bonds by Paiton Energy - the first public project bond to be sold in the market this century 
• various multinational banking and financial institutions on cross-border marketing of their banking, securities and insurance products into Indonesia