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A US$400mn financing for Indonesia’s Transpacific Petrochemical Indomata has closed. Proceeds will finance the Tuban Petrochemical project in Tuban, East Java. The deal is equally split between a Japan Bank for International Cooperation (JBIC) tranche and a Nippon Export Insurance Agency (Nexi) covered tranche.

Mandated arranger is Sumitomo Mitsui Banking Corp (SMBC), while Bank of Tokyo-Mitsubishi, Fortis Bank, HypoVereinsbank, Natexis Banques Populaires, Standard Chartered, UFJ Bank and WestLB have joined as arrangers.