Feb 23, 2011

Matahari to pay debt Rp2.41 trio

PT Matahari Putra Prima Tbk (MPPA) plans to made early payment of Rp2.41 trillion of bank loan and bonds. As quoted by Kontan today, Matahari, subsidiary of PT Multipolar Tbk (MLPL), will settle Rp639.73 billion bank loan and US$200 million bond.
Referring to Matahari's financial report, the retailer partly owned by Lippo Group, schedules to pay the debt in 2011 and 2012. "All debts have been settled," said Matahari Corporate Secretary Danny Kojongian said. 
MPPA has bagged Rp5.8 trillion cash from shares sale of its unit PT Matahari Department Store. Post debt payment, MPPA still manages rupiah denominated bond which will mature in 2014.

Disclosure: No position at the stock mentioned above.

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