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