JAKARTA. PT Chandra Asri Pacific Tbk (TPIA), a petrochemical company owned by Prajogo Pangestu, has obtained a senior term loan facility of USD 600 million.

TPIA has appointed Oversea-Chinese Banking Corporation Limited and PT Bank OCBC NISP Tbk (NISP), or OCBC Group, as the arranger, agent, and sustainability coordinator of said facility. The agreement signing took place with the company, OCBC Group, and several creditors, last Thursday (30/5).

The management of TPIA further said that this loan facility is meant to promote growth and expansion in the future. “With this sustainable loan facility, the company will be provided with improved financial resilience and performance, as well as the flexibility to manage cashflow for its growth,” said the management of TPIA in the official statement.

In this agreement, TPIA is granted a tenor of 7 years for this facility. In addition, the company also has an option to extend its tenor for the next 3 years.

The loan facility agreement is made under applicable law in Singapore. The dispute that might arise from this agreement will be resolved through arbitration of SIAC (Singapore Internasional Arbitration Centre).

According to IDNFinancials data, TPIA arrived 55 points or 0.54% higher to IDR 9,225 at the closing of today’s (3/6) first session at the stock exchange. Since the beginning of this year, the stock price has shifted 3,550 points or 62.28% higher. (KR/ZH)