|End-of-day quote - 01/18|
PT Chandra Asri Petrochemical Tbk : PermataBank and Chandra Asri Petrochemical Sign a Term Loan Facility Agreement to Strengthen Domestic Industry Growth
|05/17/2020 | 11:41pm|
18 May 2020
PermataBank and Chandra Asri Petrochemical Sign a Term Loan Facility Agreement to Strengthen Domestic Industry Growth
Jakarta, 18 May 2020 - PT Bank Permata Tbk (PermataBank) have partnered with PT Chandra Asri Petrochemical Tbk (Chandra Asri) to sign a US$ 70 million Term Loan Credit Facility Agreement. This partnership is part of the commitment from PermataBank and Chandra Asri to support Indonesia's economic growth through domestic industry financing amid the challenges of the COVID-19 pandemic. The agreement was signed by Division Head of Corporate Banking PermataBank, Lambas Marasi Tua LG and two Directors of Chandra Asri Petrochemical, Andre Khor and Suryandi, witnessed by
Director of Wholesale Banking PermataBank, Darwin Wibowo.
The partnership between PermataBank and Chandra Asri has been established since 2018, and the signing of this new agreement will be the foundation to further strengthen the relations between these two companies and continue developing long term business trust.
Director of Wholesale Banking PermataBank, Darwin Wibowo stated: "This signing ceremony is our form of support for Chandra Asri and domestic industries in the midst of uncertainties arising from the COVID-19 pandemic. Our trust in their business as the market leader and the most integrated petrochemical producer in Indonesia solidifies the decision to provide a US$ 70 million Term Loan Facility. We are optimistic that this collaboration not only shows PermataBank's strong liquidity in the market but also maintains a strong relationship with Chandra Asri."
Finance Director of Chandra Asri Petrochemical - Andre Khor said, "We are grateful for the trust given by PermataBank. During this challenging period due to the COVID-19 pandemic, Chandra Asri as one of the key industry players in Indonesia is fully committed to continue to be the main pillar of growth for the downstream petrochemical industry. As we know, reactivation of industrial growth is very important at this time. We are very pleased to be working with a long-term financial partner who supports and understands our business model, to ensure that Chandra Asri continues to maintain solid access to capital and sustain financial resilience. The synergy between Chandra Asri and PermataBank will strengthen and help us realize this commitment."
This Term Loan Facility will be used by Chandra Asri to finance General Corporate Purpose, Annual / Regular Capital Expenditure (CAPEX), Operating Expense, and / or Refinancing Requirements.
For more information, please contact:
Head of Corporate Affairs PermataBank +62 21 523 7788
Director of Corporate Affairs and HR (62-21) 530 7950
PermataBank is one of the major private banks offering comprehensive financial services to more than 3 million customers in 62 cities in Indonesia. PermataBank has 316 branch offices, 16 mobile branches, 978 ATMs with access to more than 100,000 ATMs (VisaPlus, Visa Electron, MasterCard, Alto, ATM Bersama and ATM Prima) and millions of ATMs worldwide that are connected to the Visa, Mastercard and Cirrus networks. In the third quarter of 2019, in terms of services, PermataBank won 2019 Satisfaction Loyalty & Engagement (SLE) Award based on the Infobank and Marketing Research Indonesia (MRI) survey, one of which is ranked # 1 for the INDEX 2019 OVERALL-ENGAGEMENT category (conventional commercial bank / book bank 3). In the second quarter, PermataTel again won the 2019 Contact Center Service Excellence Award for 10 categories, from Service Excellence Magazine. In terms of products; credit card, debit card and Syariah Business Unit PermataBank ranked I & II for the Digital Brand Awards 2019 by InfoBank Magazine. PermataBank also won various service excellence awards in both categories of conventional Banks and Sharia banking, in the Banking Service Excellence Award by InfoBank magazine in collaboration with Market Research Indonesia. As a pioneer in mobile banking and mobile cash technology in the Indonesian market, in 2018, the Bank launched the PermataMobile X application with the latest 200 innovative features.
For further information on PermataBank, please visit us at http://www.permatabank.com
ABOUT CHANDRA ASRI
Chandra Asri Petrochemical is Indonesia's largest integrated petrochemical company producing Olefins and Polyolefins. With a history of over 28 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.
PT Chandra Asri Petrochemical Tbk published this content on 18 May 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 May 2020 03:40:08 UTC