Chandra Asri signs $94m loan
Saturday, October 10 2015 - 05:12 AM WIB
IDX-listed petrochemical firm PT Chandra Asri Petrochemical Tbk (CAP) has signed Facility Agreement for US$94.98 million loan facility from Bangkok Bank Public Company Limited, Jakarta Branch, The Siam Commercial Bank Public Company Limited, PT Bank DBS Indonesia, DBS Bank Ltd., and The Hongkong Shanghai Banking Corporation Limited, Jakarta Branch.
The loan will be used by the company to refinance the outstanding amount of a 7-year $150 million syndicated term loan.
CAP is the largest vertically integrated petrochemical company in Indonesia with facilities located in Ciwandan, Cilegon and Puloampel, Serang in Banten Province. Its main facility is the Lummus Naphtha Cracker producing high quality Ethylene, Propylene, Mixed C4, and Pyrolysis Gasoline (Py-Gas) for the Indonesian as well as regional export markets.
Editing by Johannes Simbolon