MDS wants one more after $84m in commitments

16 Aug 2010

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 launched the deal into syndication in April this year, and have so far got commitments worth Rp750m ($83.7m) from two to three banks. That includes demand from at least one local branch of an international bank, and at least one purely local lender.

The deal ...

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