Oct 25, 2011

Chandra Asri seeks US$250 mio loan

PT Chandra Asri Petrochemical Tbk is exploring a chance to secure a US$150 million-US$250 million loan facility.
The company's Secretary Suryandi said Chandra Asri is unable to seek the facility more than the figure as it will put a US$850 million assets for collateral.
To pledge the assets, Chandra Asri has obtained an approval from extraordinary general meeting of shareholders yesterday. The facility is expected to due date within 5-7 years. The company is underway in talks with four syndicated banks such as Bank Danamon, DBS Bank, HSBC Bank, and Standard Chartered Bank. 

Disclosure: No position at the stock mentioned above.  

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