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Chandra Asri bags US$199.8m loan from international banks

JAKARTA ( – PT Chandra Asri Petrochemical Tbk (IDX:TPIA) has signed loan facility worth US$199.8 million from a number of international banks to refinance its debts.

The loan facility was provided by (1) Bangkok Bank Public Company Limited, Jakarta branch, (ii) The Siam Commercial Bank Public Company Ltd, (iii) PT Bank DBS Indonesia, (iv) DBS Bannk Ltd, (v) The Hongkong Shanghai Banking Corporation Ltd (HSBC), Jakarta branch, (vi) Bank ICBC Indonesia and (vii) Bank BNP Paribas Indonesia.

The loan will be used b the company to refinance the outstanding loan amount of a 7-year US$265 million syndicated term loan.

The loan will be secured among others with the company’s assets, fiducia security over movables and insurance claims, as well as pledges over accounts and shares owned by the company in its subsidiaries. (*)

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