JAKARTA (Yosefardi) – Shares of feed producer PT Charoen Pokphand Indonesia Tbk (CPIN) dropped 3% to Rp4,000 per share this morning with over 12 million shares exchanged hands.
The stock has rebounded 48% from its bottom but still lost 27% from its peak year to date.
On Monday (Oct 21), the company secured loan facility of US$500 million, equivalent Rp5.7 trillion, from 20 syndicated banks. The loan has tenor of 3-5 years.
The company will use the loan to settle its debt of US$200 million, part of it is scheduled to mature next year. The rest US$300 million loan will be used to fund business operation within next 5 years.