Chandra Asri Said to Seek More Bank Participation in Loan

PT Chandra Asri (TPIA), an Indonesian petrochemical producer, is trying to attract an additional three banks to its $150 million loan, according to a person familiar with the matter.

The seven-year facility was signed in November and arranged by DBS Bank Ltd., HSBC Holdings Plc and Standard Chartered Plc, according to data compiled by Bloomberg. The loan, which pays a margin of 600 basis points, later attracted PT Bank Danamon Indonesia, the data show.

Jakarta-based Chandra Asri subsequently asked the arrangers to consider the involvement of another three lenders after those banks expressed an interest in joining the facility, the person said today, declining to elaborate. The potential three new banks will be given about a month to process credit approvals, the person said.

Chandra Asri corporate secretary and investor relations director Suryandi was in a meeting and not immediately available to comment on the financing when called at his office in Jakarta today.

To contact the reporter on this story: Katrina Nicholas in Singapore at knicholas2@bloomberg.net

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.