REPUBLIKA.CO.ID, JAKARTA -- Twenty banks signed a syndicated loan facility worth 500 million USD for PT Charoen Pokphand Indonesia Tbk (CPIN), the largest poultry company in Indonesia. This financing is the third and largest syndicated financing after financial crisis in 1998 received by CPIN. CPIN ever got syndicated loans in 2007 and 2011.
Banks that signed the loan facility consisted of Citibank Indonesia, PT Bank DBS Indonesia, PT Bank ANZ Indonesia, Sumitomo Mitsui Banking Corporation, PT Bank Internasional Indonesia Tbk (BII), Rabobank International, Aozora Asia Pacific Finance Limited, Emiraates HBD PJSC, Land Bank of Taiwan and PT Bank Mizuho Indonesia. Next, Bank of China Limites, Bank of Taiwan, CTBC Bank Co, Mega International Commercial Bank Co. Ltd, The Bank of East Asia, Chang Hwa Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank Ltd, Taipei Fubon Commercial Bank and Taiwan Cooperative Bank.
Citibank and DBS was appointed to coordinate this funding. Managing Director and Head of Corporate and Investment Banking in Citibank, Kurnady Lie explained credit facility consisted of 325 million USD and two trillion IDR. Loan portofolio between foreign and local currency has similar composition.
"All syndicated banks respond it positively and causing oversubscription. CPIN finally decided to increase its facility, from 400 million USD to 500 million USD," Lie said recently.
CPIN will increase its market share to support company's growth. CPIN's market share in animal feed reaches 37 percent, day old chicken or DOC reaches 35 percent and processed chicken reaches 55 percent. CPIN will also strengthen and diversify its downstream sector.
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