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Star Energy enlists lenders for $660 m loan for acquisition of Chevron assets in Indonesia

Darajat Unit I owned by Indonesia Power (a PLN subsidiary) with steam supplied by Chevron (source: wienblog-growingtree/ blogspot)
Alexander Richter 8 Feb 2017

Indonesian Star Energy Geothermal has enlisted lenders for a $660 million loan package for its stake in the acquisition of the geothermal assets of Chevron in Indonesia.

As we reported before the year end, Philippines-based Ayala Corp and Indonesian Star Energy have won the bid for the geothermal assets of Chevron in Indonesia and the Philippines.

It now is now reported that Star Energy Geothermal has enlisted lenders for a $660 million dual tranche loan package that is to partly fund Star Energy’s stake in the acquisition of Chevron’s geothermal assets in Indonesia.

The companies chosen as arrangers for the loan facility are Credit Suisse, DBS and Maybank. All three have pre-funded a portion of the package ahead of senior syndication, according to Global Capital

As part of the senior syndication, additional banks can join, with the “mandated lead arranger” and “bookrunner” title is available to new lenders for commitments of $100 million or more.

Source: GlobalCapital