Apr 20, 2011

Sepatu Bata seeks Rp75 bio loan facility

Indonesia’s shoes producer PT Sepatu Bata Tbk is keen to secure Rp50 billion-Rp75 billion loan merely to establish 40 new outlets this year.
The company has already secured loan commitments from BNI and HSBC, according to Bata’s Corporate Secretary Iwan Nurdiansyah. Bata’s outstanding debt was Rp6.5 billion in BNI and Rp11 billion in HSBC.
However, it is not certain whether or not such new financing need will be provided by those two banks.
“In order to establish the new outlets, we require Rp50 billion-Rp75 billion as the financing will be generated from bank loan,” he said last week as reported by Bisnis Indonesia.
The investment allocation is rather varied for every store, highly depending on the location. Every year, Bata always establishes new outlets and at the same time hold necessary evaluation towards all the existing stores.

Disclosure: No position at the stock mentioned above.
 
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