Chandra Asri Successfully Launches The First 1 Trillion Rupiah Bond Offering in 2021

On 6 May 2021, PT Chandra Asri Petrochemical Tbk completed the issuance of a 1 Trillion Rupiah Bond. This was the first issuance in 2021 that is oversubscribed due to a strong participation interest across retail, banking, and institutional investors. This aligned with Chandra Asri’s resilience in navigating the COVID-19 pandemic smoothly, to deliver solid financial results and maintain its robust balance sheet. The Company reported the full year 2020 net profit after tax of US$51.5 million and US$85 million in Q1 2021. The issuance was again rated idAA- from Pefindo, the oldest and the most trusted credit rating agency in Indonesia. Pefindo has assessed that Chandra Asri’s capacity to meet its long-term financial commitments on a debt security, relative to other Indonesian obligors, is very strong. The issuance will be used to fund Chandra Asri’s working capital as the Company prepares for sustained growth to meet the requirements of the domestic Indonesian market.