Indonesian textile and garment manufacturer Sri Rejeki Isman (Sritex) is said to have asked lenders of its dollar loan to extend the debt’s maturity by two years to 2024, as reported by Bloomberg on Thursday. Joy Citradewi, head of corporate communications said that the company will extend the deadline by when lenders need to provide a response to March 1 from February 2 as banks require more time. This led Sritex’s dollar 6.875% and 7.25% bonds due 2024 and 2025 to drop over 5 and 7 points to 85.4 and 83.8 respectively. Sritex was planning a new dollar bond in the second week of January but later scrapped the proposed issuance after regional peer Pan Brothers faced a series of credit rating downgrades, which soured the overall outlook on Indonesian garment manufacturers. In the latest update, Sritex said that it has sufficient liquidity with high cash balance and existing bilateral loans.
Recent Posts
- NongHyup Bank Launches $ Bond; Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
- The Week That Was (20th-26th June, 2022)
- Russia-Ukraine Crisis: Impact on Bonds & CDS Spreads
- Reliance Said to be in Talks to Raise Up to $8bn for Boots
- Chinese Bank Consortium Lends Pakistan $2.3bn to Stave off FX Crisis
Archives
Categories
REGISTER FOR A FREE TRIAL

- Two-way Bond Prices
- Portfolio Analytics
- Bond Market News
- New Bond Issue Alerts
- Bond Screener
- Bond Prices
- Bond Market News
- New Bond Issues