Oct 4, 2011

Chandra Asri seals US$465 mio loan

Petrochemical products player PT Chandra Asri Petrochemical Tbk has secured a US$465 million working capital facility from seven foreign and local banks.
Corporate Secretary Suryandi at Chandra Asri said the seven banks are DBS Bank as collateral agent, Standard Chartered Bank, PT Bank Central Asia Tbk, HSBC, PT Bank Danamon Tbk, ANZ, and PT Bank Negara Indonesia Tbk
"The loan agreement was signed on September 28," he said in a press statement yesterday.
According to him, the working capital facility is including revolving facility of US$25 million. The loan will be used by Chandra Asri to support its operational and pave a platform that underpins growth.

Disclosure: No position at the stock mentioned above.

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