Nov 8, 2010

Unilever bags Rp6 trio loan from Mandiri

Consumer products maker PT Unilever Indonesia Tbk has secured Rp6 trillion loan facility from Indonesia’s largest state lender, PT Bank Mandiri Tbk merely to enhance its capital working in 2010.
Senior Vice President Wholesale and Transactional Banking Solution of Bank Mandiri Paul Tehusijarana said that loan facility aims to foster Unilever’s capital working particularly in developing its business unit and its subsidiaries.
“It will basically be used to finance the bank guarantee and distributor as well as trust receipt for some of its distributors in some regions,” he said amidst the signing of such cooperation.
He further added that the loan credit shall be dedicated to nearly 246 distributors and subsidiaries or around 60% out of Unilever’s business network.
Furthermore, Paul explained that his company keeps raising the amount of loan facility given to the consumer goods company as he affirmed that Unilever Indonesia is one of the top creditors in consumer goods sector.
The loan facility given to Unilever is the second highest after Pertamina.
“The biggest loan facility was given to Pertamina, while Unilever is the best creditor in the consumer goods sector. The amount of the loan facility is increasing from year to year, thus, we need to provide additional facility to Unilever,” he said.

Disclosure: No position at the stock mentioned above.  

Print This Article

No comments: