Textile producer Sri Rejeki Isman (SRIL), also known Sritex, has issued Medium Term Notes (MTN) worth of US$30 million. The MTN was purchased by state-owned asset management firm, PT Bahana TCW Investment Management. For background, the issuer has an obligation to paid the 2017′ MTN, which matured on Nov. 1, with an interest rate of 5.8% per year. The new debt raised an A+ rating from PT Fitch Ratings Indonesia.

Sritex still has other MTNs which will mature in this year and 2021 with total amount of Rp35 billion. Both have a coupon rate 5.8%. The company also obtained a short-term credit facility from BPD Jawa Barat and Banten (BEKS) with a total limit of Rp550 billion. This credit facility aims to finance the company’ working capital needs and has a one year term.