Indonesia’s Chandra Asri Discusses Lenders for $1.3 Billion Purchase of Esso Stations in Singapore

Indonesia’s Chandra Asri Pacific is currently in discussions with various groups of lenders to secure funding for its $1 billion purchase of Esso-branded service stations in Singapore from ExxonMobil. Sources familiar with the situation revealed that Chandra Asri is negotiating a $750 million facility with Global Atlantic, the insurance arm of KKR & Co, while also planning to invest $250 million from its own equity. Additionally, the company is exploring a potential senior loan of up to $600 million and a mezzanine financing of around $250 million from a consortium of banks and private credit funds like Indonesia Investment Authority, Allianz Global Investors, and Ares Management Corp. The remaining funds will be covered by Chandra Asri’s equity. Discussions with other lenders are ongoing, with terms subject to change in the future.