Matahari wants one more after $84m in commitments
Matahari Department Stores is waiting for one more bank to commit to its Rph3.5tr ($387m) buy-out loan before closing syndication. The deal is one of the first LBO financings in Indonesia, and will test the ability of loans bankers to close sponsor-backed deals in the country.
CIMB and Standard Chartered were mandated on the financing in January, and are intending to close it in the next few weeks. The banks soft-launched it into syndication in April this year, and have so far received commitments worth Rp750m ($83.7m) from two or three banks.
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