PT Chandra Asri Petrochemical Tbk : Chandra Asri has successfully optimizing fund absorption from its largest bond series
March 09, 2022 at 08:53 pm EST
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Chandra Asri successfully completes its 3rd IDR Bond Shelf Program of IDR 5 Trillion (US$350mln) with overwhelming oversubscription and strong investor support
Jakarta, 10 March 2022 - PT Chandra Asri Petrochemical Tbk (Chandra Asri), Indonesia's largest integrated petrochemical company, have successfully completed its 3rd IDR bond program with overwhelming oversubscription and strong investor support.
Chandra Asri had successfully executed five tranches of its 3rd Shelf Program. Phase I in 2020 was closed with a value of IDR 1 Trillion, followed by Phase II in 2020 of IDR 600 Billion, Phase III in 2021 of IDR 1 Trillion, Phase IV in 2021 of IDR 1 Trillion, and the final Phase V in 2022 of IDR 1.4 trillion.
The final Phase V 2022 issuance recorded the biggest ever order book and oversubscription order of IDR2.5 trillion (~US$178mln), with a new record of largest single-tranche issuance for Chandra Asri of IDR1.4 trillion (~US$100mln). It also recorded one of the longest tenors for a private industrial company, with up to 10 years bullet repayment, at competitive and compelling terms.
Erwin Ciputra, President Director of Chandra Asri stated, "We are pleased to complete our IDR bond program successfully with the strong support of our loyal investors and joint lead underwriters. This is a strong testimony of the high confidence of domestic investors in the Company's performance and financial strength. We are also delighted to be able to provide investors with an attractive alternative to help meet their investment needs, to be able to diversify their portfolio to reduce risk, and to increase their yield and returns."
Underwriters of the latest Phase V issuance are PT BCA Sekuritas, PT BNI Sekuritas, PT BRI Danareksa Sekuritas, PT CIMB Niaga Sekuritas, and PT DBS Vickers Sekuritas Indonesia. PT Bank Tabungan Negara Tbk acted as the trustee.
Chandra Asri will seek to grow its IDR Bond Shelf Program and will launch a new shelf in 2022 to provide investors with continuous opportunities to participate in the growth and expansion of the company.
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About Chandra Asri Chandra
Asri Petrochemical is Indonesia's largest integrated petrochemical company producing Olefins and Polyolefins. With a history of over 29 years and over 2,000 dedicated staff, the company incorporates state-of-the-art technologies and supporting facilities located strategically in the country's petrochemical hub, Cilegon and Serang. As a Growth Partner, Chandra Asri is committed on creating high-value jobs, expanding the domestic petrochemical value chain, and serving the needs of the vibrant and growing Indonesian market. For more information, visit: www.chandra-asri.com.
For more information, please contact:
Suryandi, Director of Corporate Affairs and HR
Telp: (62-21) 530 7950 | Fax: (62-21) 530 8930
E-mail:suryandi@capcx.com
Chrysanthi Tarigan, Head of Corporate Communication
PT Chandra Asri Petrochemical Tbk published this content on 10 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 March 2022 01:52:03 UTC.
PT Chandra Asri Pacific Tbk, formerly PT Chandra Asri Petrochemical Tbk, is an Indonesia-based chemical and infrastructure solutions company, operating an integrated petrochemical plant. Its segment includes Olefins (Ethylene, Propylene, Pyrolysis Gasoline, Mixed C4 and naptha), Polyolefins (Polyethylene and Polypropylene), Styrene Monomer, Methyl Tert-butyl Ether (MTBE) and Butene-1 (B1), Butadiene, Tanks and Jetty Rental, and Sales of electricity and other electrical services (Electricity). Its Olefins products and by-products (Py-Gas, Mixed C4 and PFO) are produced from the Naphtha Cracker plant. It distributes Ethylene, Propylene by pipeline to its customers and ships Py-Gas and PFO to its customers. Its Polyolefins offers Polyethylene resin under the Asrene brand, which covers high-density polyethylene (HDPE) and Linear low-density polyethylene (LLDPE) products. Polypropylene resin is sold under the trademark brand Trilene, which includes Homopolymer, Random Copolymer and others.
PT CHANDRA ASRI PACIFIC TBK 
