USD 250 Million Balloon Payment Facility from BNI for Chandra Asri’s Business Expansion and Growth

PT Chandra Asri Petrochemical Tbk and PT Bank Negara Indonesia (Persero) Tbk signed a financing facility agreement using a new term loan scheme with balloon payments with a total value of USD 250 million or around IDR 3.5 trillion (using an exchange rate of IDR 14,310 per US Dollar) on 5 October 2021. This financing scheme is divided into two facilities. First, the Term Loan 1 facility with a maximum of USD 150 million is used to finance bond buybacks and refinancing the company's existing debt with a tenor of seven years. Second, the Term Loan 2 facility with a maximum of USD 100 million, to finance the pre-operation necessities of the second global petrochemical complex (Chandra Asri Perkasa) with a ten-year tenor.