KKR’s insurance platform Global Atlantic Financial Group has been chosen to provide financing for PT Chandra Asri Pacific’s $1bn acquisition of Esso-branded service stations in Singapore from Exxon Mobil, in one of Asia’s largest private credit transactions this year, according to Bloomberg.

Global Atlantic will extend a $750m unitranche loan at a single-digit interest rate, while the Indonesian energy and chemicals company will contribute the remaining $250m through equity, according to people familiar with the matter.

The deal highlights Global Atlantic’s expanding role in Asia’s private credit market as demand for alternative financing grows. The firm, backed by KKR, beat out a rival lender group that had included Indonesia Investment Authority, Allianz Global Investors, and Ares Management, which were previously in talks to provide senior and mezzanine financing.

Last month, Chandra Asri announced it had signed a sale and purchase agreement for the Esso network through a special purpose vehicle under a wholly owned subsidiary. The transaction remains subject to regulatory clearance and is expected to close by year-end.

The Esso acquisition forms part of Chandra Asri’s broader regional expansion strategy and underscores the rising role of private credit providers such as Global Atlantic in large-scale corporate financing across Asia.

If you think we missed any important news, please do not hesitate to contact us at news@pe-insights.com.

Can`t stop reading? Read more.