Jakarta - PT Chandra Asri Petrochemical Tbk (TPIA) won a new term loan scheme with balloon payments from PT Bank Negara Indonesia Tbk (BBNI) worth a total of US$250 million.

This financing scheme is divided into two facilities. First, term loan facility 1 with a maximum of US$150 million, which is used to finance bond buybacks and to refinance the company's existing debt, with a tenor of seven years. Second, the term Loan 2 facility with a maximum of US$ 100 million, to finance the pre-operation needs of the second global petrochemical complex (CAP2) with a ten-year tenor.

President Director of Chandra Asri Erwin Ciputra said the partnership with BNI is a step for Chandra Asri to continue to improve financial performance to provide operational excellence.

"We are very pleased to be partnering with BNI, a partner for the growth of the national petrochemical industry and in expanding to support the development of CAP2. We hope that this partnersh