Cindy Riswantyo

Cindy Riswantyo



Cindy Riswantyo is a Partner in Witara Cakra Advocates (WCA), White & Case's associated law firm in Indonesia. She specialises in debt finance, financial restructuring, project finance, projects & infrastructure development and public private partnerships (PPP).

Cindy has extensive experience in corporate financing, acquisition financing, debt restructuring, greenfield project finance, brownfield infrastructure M&A, PPP projects development and corporate reorganisations of infrastructure state-owned companies in Indonesia. She has also worked with various clients from different sectors, including commercial lenders, development banks, project developers, sponsors, private funds and government agencies.

She was recently ranked as an Up and Coming lawyer for Indonesia Banking & Finance by Chambers Asia Pacific 2023 and as a Rising Star for Indonesia Projects & Energy by The Legal 500 Asia-Pacific 2023. She was also recognized as Indonesia Future Legal Leaders 2023 by Asian Business Law Journal.

Fluent in both Bahasa Indonesia and English. She also served as a law lecturer at a university in Indonesia.

Bars and Courts

PERADI (Indonesian Bar Association)


LLM, Columbia University, NYC, USA
LLB, University of Pelita Harapan Law School, Indonesia


Bahasa Indonesia


Cindy's experience includes advising:

Financing for real estate companies
Representing private equity funds in a financing for Central Park Jakarta, a property owned by one of the largest Indonesian property conglomerates. The financing involved three offshore private funds.*

Project financing for ferronickel smelter development
Representing a syndication of offshore banks in the greenfield project financing for Harita Group for the development of the world's largest ferronickel smelter facilities in Obi Island, Maluku, Indonesia.*

Financing for data center development
Representing a syndicate of onshore lenders in the financing for a data center in Indonesia. The project company was a joint venture between Temasek, STT GDC and Triputra Group.*

Financing for the acquisition of toll road assets in Indonesia
Representing PT Bank Mandiri (Persero) Tbk in the financing to Hong Kong-listed Road King Infrastructure for the acquisition of several toll road assets in Indonesia.*

Debt restructuring for ABM Investama Subsidiary
Representing a syndication of lenders in the restructuring of PT Sumberdaya Sewatama (a subsidiary of ABM investama). The restructuring involves multiple types of debt, such as conventional bank financing and bonds and Islamic financing and bonds. The deal won Indonesian Deal of the Year 2017 by Islamic Finance News.*

Disposal of ENGIE's three geothermal assets in Indonesia.
Representing ENGIE in selling three geothermal assets in Indonesia, namely Muara Laboh, Rantau Dedap and Rajabasa, to Sumitomo, Inpex and Marubeni.*

A North American pension fund's first investment into Indonesia
Representing a North American pension fund in the bid for acquisition of toll road project in Indonesia and in the joint venture for the development of a Port terminal in Indonesia. These were the funds' first investment into Indonesia*

Strategic partnership of Pelindo with Indonesia Investment Authority (INA) and DP World
Representing the subsidiary of Pelindo (the 8th largest port operator in the world) in the joint venture and the development of Belawan port in North Sumatera, Indonesia. The consortium of INA and DP World acted the JV partner and the project operator.*

Project financing for wind power project
Representing Equis Energy in the project financing for 72 MW Tolo Wind Power project. The financing was provided by Asian Development Bank (ADB) including from ADB-managed funds, Leading Asia's Private Infrastructure Fund (LEAP) dan Canadian Climate Fund for the Private Sector in Asia II (CFPS II).*

Project financing for solar power project
Representing Vena Energy in the project financing for 3 Lombok (totalling 21 MW) and Likupang (21 MW) solar power projects. The financing was provided by Asian Development Bank (ADB) including from ADB-managed funds, Leading Asia's Private Infrastructure Fund (LEAP) dan Canadian Climate Fund for the Private Sector in Asia II (CFPS II).*

Project financing for LNG project
Representing PT Donggi-Senoro LNG (comprising the Sponsors, Mitsubishi, Korea Gas Corporation, Pertamina and PT Medco Energy) on the financing of the development of the Donggi-Senoro LNG project in Central Sulawesi, Indonesia.*

Project financing for hydro power project
Representing JBIC as ECA and lender, and the commercial lenders on the US$100 million financing for a project company set up by Kansai Electric Power Co and PT Indonesia Power for the development and construction of the 47 MW Rajamandala hydroelectric IPP project in West Java, Indonesia.*

*Experience prior to joining WCA.

Cindy Riswantyo