Published on 12/03/2024 at 07:59 GMT+7 Reading time
Chandra Asri Group has appointed Singapore-based bank OCBC as advisory bank as well as mandated Lead Arranger and Bookrunner for its USD600 million multi-currency term loan facility.
The loan has a seven-year tenor and a three-year extension option. The loan will be utilized for general corporate purposes to increase working capital requirements, given the continued growth and expansion of the Chandra Asri Group.
After a comprehensive evaluation process, OCBC emerged as Chandra Asri Group's preferred financing partner to guide and lead the Company through the complexities of fulfilling its financing needs through structured, customized facilities.
In addition, the multi-currency cross-regional financing demonstrates the Company's commitment to expand its competitive position to a regional and global level, which will further strengthen its financial resilience and performance.
Tan Teck Long, Head of Global Wholesale Banking of OCBC, said it is pleased to work with Chandra Asri to launch this flagship, multi-featured facility to meet the needs of the Chandra Asri Group.
"We look forward to leveraging OCBC's collective expertise to drive innovation, open up new opportunities and provide even greater added value to our customers," Tan said in a written statement on March 8, 2024.
Meanwhile, Andre Khor, Chief Financial Officer of Chandra Asri Group, said the company was pleased to announce OCBC's appointment, which reaffirms its financial strength and positions the company for continued success in an evolving market environment. "This demonstrates a strong endorsement strategy, governance and the company's ability to deliver results through this cycle," he said.
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