• Published on 11 March 2024
• 495 Views
• Print

Chandra Asri appoints OCBC for $600M multicurrency term loan facilities

Chandra Asri Group has mandated OCBC as the advisory bank and mandated lead arranger and bookrunner for the $600 million equivalent multi-currency term loan facilities with a tenor of seven years and a three-year extension option.

The facilities will be used for general corporate purposes to increase working capital needs, considering Chandra Asri’s continuous growth and expansion.

Following a comprehensive evaluation process, OCBC emerged as Chandra Asri Group’s preferred financing partner to guide and lead the company through the intricacies of fulfilling its financing needs via this intricate and bespoke-structured facility. Furthermore, multi-currency cross-border financing underscores the company’s commitment to expand its competitive position onto a regional and global stage, that will further strengthen its financial resilience and performance.

Tan Teck Long, head of global wholesale banking of OCBC stated: “We are pleased to partner Chandra Asri to launch this market-leading facility with multiple features to meet the group’s needs. We look forward to harnessing the collective experience of OCBC to drive innovation, unlock new opportunities, and deliver enhanced value to our customers and beyond.”

Andre Khor, chief financial officer of Chandra Asri Group, expressed: “We are delighted to announce the appointment of OCBC, which reaffirms our financial strength and positions us for continued success in an ever-evolving market landscape. This demonstrates solid support for the company’s strategy, governance and ability to deliver results through the cycle.”

Re-disseminated by The Asian Banker