JAKARTA (Yosefardi) – Textile giant PT Sri Rejeki Isman Tbk (SRIL), otherwise popular as Sritex, booked sales of US$305 million in the first half of 2015, representing 50% of this year’s target.
Sritex targets export to contribute 60% of sales this year. It has exported its products to United States, Europe, Middle East, Asia, and Africa.
The company allocates capital expenditure (capex) of US$104 million for this year, of which US$52 million has been spent in the first half.
Through its subsidiary PT Sinar Pantja Djaja, SRIL plans to issue global bond worth US$420 million, used to refinancing debts (US$320 million) and to finance power plant construction and working capital (US$100 million).
The global bonds will have tenor of 5 years and will offer coupon rate of maximum 10% per annum.