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Monday, December 24, 2012

Sri Lanka electronic retailer gets IFC finance

Dec 23, 2012 (LBO) - Sri Lanka's Softlogic Holdings Plc, said its consumer durable retail division, Uni-Walkers (Pvt) Ltd, has negotiated a 15 million US dollar financing package from the World Bank group unit International Finance Corporation.

The IFC will give 10 million through convertible instrument and the balance as a 10 year loan with a grace period of 3-5 years, the Softlogic said in a stock exchange filing.

The money will be used to expand Uni Walkers showroom to 280 and fund working capital, the firm said.

source - www.lbo.lk