Chandra Asri (TPIA) Secures US$ 600 Million Credit Facility

ISSUER NEWS - JAKARTA. PT Chandra Asri Pacific Tbk (TPIA) has appointed OCBC as an advisory bank and Mandated Lead Arranger and Bookrunner (MLAB) for a multi-currency term loan facility equivalent to US$ 600 million. 

The loan facility will have a tenor or term of seven years and an extension option of three years. The plan is for all of this funding to be used for TPIA's working capital needs. 

Andre Khor, Chief Financial Officer of Chandra Asri explained that the facility will be used for general corporate purposes to increase working capital needs. 

"This is considering the continuous growth and expansion of the Chandra Asri Group," he explained in the disclosure of information to the Indonesia Stock Exchange (BEI), Friday (8/3). 

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According to him, cross-regional multi-currency financing demonstrates TPIA's position to expand its competitive position to a regional and global level, which will further strengthen its financial resilience and performance.

Just so you know, TPIA is a subsidiary of PT Barito Pacific Tbk (BRPT) owned by tycoon Prajogo Pangestu. Chandra Asri Group is a petrochemical and infrastructure company.