Chandra Asri Petrochemical’s Successful Issuance of Rp750 billion Bond Due 2022

Oleh : Candra Mata | Kamis, 11 Juli 2019 - 14:21 WIB

Pabrik petrokimia Chandra Asih (rino/industry.co.id)
Pabrik petrokimia Chandra Asih (rino/industry.co.id)

INDUSTRY.co.idJakarta, PT Chandra Asri Petrochemical Tbk (CAP), Indonesia’s largest integrated petrochemical company, successfully launched a 3-year Bond issuance of Rp750 billion with a coupon of 9.5% on 31 May 2019. The Bond, TPIA02CN2, continues to trade at a premium as of 5 July 2019.  This transaction marks CAP’s continued success in tapping the domestic fixed income market, as part of the company’s Shelf Offering Program II approved by the Financial Services Authority (OJK) with a Rp 2 trillion funding target.

“We are grateful for the continued strong support we receive from the public on the issuance of our rupiah bonds. We are pleased with the response and feedback received for our inaugural Bond Investor Day back in March. The success of these issuances and exclusive investor events gives us confidence on the market’s continued trust in our operational and financial performance. We look forward to growing together with our investors, through sustained future bond issuances with attractive yields, underpinned by stable growth and solid fundamentals,” said Erwin Ciputra, President Director of CAP. 

The Bond was rated idAA- rating from Pefindo, the oldest and the most trusted credit rating agency in Indonesia. Pefindo has assessed that CAP’s capacity to meet its long-term financial commitments on the debt security, relative to other Indonesian obligors, is very strong. The funding proceeds from the Bond will be used to finance the company’s Methyl Tert-butyl Ether (MTBE) and Butene-1 plant growth projects which are expected to come onstream in the third quarter of 2020, to further expand CAP’s revenue streams and extend its leading position within the ever growing Indonesian petrochemical industry.

The global rating agency, Standard & Poor's (S&P) Global Ratings, in their press release dated 26 June 2019 also announced an upgrade of CAP’s international long-term credit rating from B+ to BB- with a stable outlook. The S&P BB- rating for CAP also applies to the long-term issue ratings of the Company's internationally listed US$300 million senior unsecured bond.

Komentar Berita

Industri Hari Ini

realme masuk segmen alot

Sabtu, 18 Januari 2020 - 15:16 WIB

Realme Buds Air Jajal Alot di Indonesia

realme, merek trendsetter untuk teknologi canggih dalam smartphone di Indonesia, secara resmi melangkah ke ranah AIoT di Indonesia dengan meluncurkan True Wireless, Real Seamless - realme Buds…

SystemEver

Sabtu, 18 Januari 2020 - 13:48 WIB

Software ERP SystemEver Siap Perkuat UKM Hadapi Revolusi Industri 4.0

Era Revolusi Industri 4.0 semakin menuntut dunia usaha mulai dari skala kecil, sedang hingga besar untuk melakukan berbagai lompatan bisnis agar menghasilkan produk barang dan jasa yang kompetitif…

Shopee

Sabtu, 18 Januari 2020 - 13:35 WIB

Shopee Berhasil Catatkan Pencapaian Spesial di Tahun 2019

2019, Shopee berhasil mempelopori serangkaian inisiatif yang berhasil mengubah cara konsumen berbelanja online di daerah tempatnya beroperasi.

Marcedes Benz (ist)

Sabtu, 18 Januari 2020 - 13:05 WIB

Mercedes-Benz Catat Penjualan 3.344 Unit Kendaraan Penumpang dan Van di 2019

PT Mercedes-Benz Distribution Indonesia berhasil menjual 3.344 unit mobil tahun lalu meskipun situasi industri otomotif yang menantang

Ilustrasi pembangunan Jalan

Sabtu, 18 Januari 2020 - 12:53 WIB

Kementerian PUPR Genjot Pembangunan Jalan Lingkar Raja Ampat

Kehadiran jalan tersebut akan meningkatkan konektivitas antar destinasi wisata di Kabupaten Raja Ampat, Provinsi Papua Barat yang terkenal dengan keindahan destinasi wisata gugusan pulau karang…