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Sritex Appoints Helios Capital for Debt Restructuring

Workers iron clothing at the Sri Rejeki Isman PT factory in Solo, Central Java, Indonesia.

Workers iron clothing at the Sri Rejeki Isman PT factory in Solo, Central Java, Indonesia.

Photographer: Dimas Ardian/Bloomberg

Indonesia’s biggest listed clothing firm Sri Rejeki Isman has appointed Helios Capital and Assegaf Hamzah & Partners to represent the company in its debt restructuring process, according to a statement on Saturday.

The company, known as Sritex, has been trying to extend a dollar loan’s maturity by two years to January 2024. The loan was announced in 2019 and had a deal size of $350 million, according to data compiled by Bloomberg.