JAKARTADAILY.ID – PT Charoen Pokphand Indonesia Tbk, an Indonesia-based company primarily engaged in manufacturing animal feeds and poultry feeds, has signed syndicated revolving credit facilities with 22 lenders worth more than $600 million.
The details of the deal were revealed by DBS Bank Indonesia, which said it had served as one of the coordinators and lenders for the Indonesian company.
According to a statement sent to JakartaDaily.id on Thursday, July 7, 2022, Charoen Pokphand signed syndicated revolving credit facilities worth $200 million and Rp 6 trillion ($400.3 million).
The credit facilities will be used to help fund Charoen Pokphand's general expenses.
The deal is part of a regular arrangement between the lenders and Charoen Pokphand, which is listed on the Indonesia Stock Exchange under the stock ticker CPIN.
As for DBS Bank itself, the deal will mark the lender's eighth time providing loans to Charoen Pokphand.
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"Bank DBS Indonesia has made a good relationship with CPIN (Charoen Pokphand) and participated in syndicated loans since 2007," the lender said in the statement.
Operating commercially since 1972, Charoen Pokphand is engaged in the manufacturing of animal feeds and poultry feeds.
The company claimed to be a vertically-integrated poultry player in Indonesia.
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Kunardy Lie, Corporate Banking Head at PT Bank DBS Indonesia said as a purpose-driven bank, Bank DBS Indonesia is committed to providing positive contributions to the community, including the syndicated loans to CPIN.
Bank DBS, he said, hopes that the loan it extends to CPIN will create positive impacts on the Indonesian consumers and help stimulate the growth of the country.
DBS group offers financial services in 18 countries and has headquarters in Singapore.
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