Matahari Said to Seek 3.5 Trillion Rupiah Refinancing Loan

PT Matahari Department Store (MPPA) is seeking an about 3.5 trillion rupiah loan to refinance a facility used in 2010 to back private equity firm CVC Asia Pacific Ltd (CVCAPZ).’s acquisition of the company, said three people familiar with the matter.

The borrower has requested banks come back to it with their proposals on the facility’s structure and rates, the people said, asking not to be identified as details are private.

The original loan, which was about 3.5 trillion rupiah, matures in 2016, according to data compiled by Bloomberg. CVC’s Indonesia venture paid 7.2 trillion rupiah ($804 million) to buy the department store unit of PT Matahari Putra Prima, the country’s biggest retailer, in January 2010.

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