Apr 8, 2011

Asia Fiber seeks US$130mio financing

PT Asia Pacific Fiber Tbk (APF) is seeking US$130 million financing in a bid to support ongoin expansion, modernization capital expenditure, and working capital.
V. Ravi Shankar, an executive action on behalf of Asia Fiber, in a statement said the company requires US$50 million for ongoin expansion and capex and the remaining is for working capital.
To do so, the company is currently inviting tenders for the financing with specific requirements. Asia Fiber expects to get financing facility with over a period of 3 years after a grace period of 12 months.
For working capital, Asia Fiber expects to obtain a fresh LC facility from a bank to replace the existing facility backed by cash collateral. This will be secured by current assets of the company (inventory and receivable). 

Disclosure: No position at the stock mentioned above.

Print This Article

No comments: