Publicly listed textile manufacturer PT Pan Brothers (PBRX) has secured Rp50 billion loan facility from PT Minna Padi Aset Manajemen.
In a public announcement today, Pan Brothers reveals that the loan facility will be used to strengthen working capital and bankroll machines purchase.
Pan Brothers is required to provide convertible bond as a guarantee for the 5 year loan facility draw down. The loan facility is more than 20% of Pan Brothers' equity but still below 50%.
Disclosure: No position at the stock mentioned above.
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