JAKARTA - PT Sri Rejeki Isman Tbk (SRIL) has pocketed loans of US$ 350 million obtained from several banks.
As reported by Bloomberg on Tuesday (19/3), the loans consist of US$ 200 million in term loans and US$ 150 million in revolving loans. SRIL Corporate Secretary Welly Salam said the loans will be used for refinancing.
“The funds will be used to refinance some of our global bonds that will mature in 2021 and to repay bilateral debts with collaterals, so that all of Sritex’s debts will have no collaterals,” Mr Salam told Kontan.co.id, Wednesday (20/3).
Mr Salam added that this year SRIL has no major expansion plan and will only resume last year’s business strategies. The company has budgeted a capital expenditure (capex) of US$ 40 million for maintenance. (MS)