Sunshine Holdings PLC (Company) said the company is obtaining an inter company loan of Rs.3, 500 million from Estate Management Services (Private) Limited, which is a fully owned subsidiary of the Company.
The terms of the said facility, will be at the market interest rate of approx. 9.8% (AWPLR+0.5%), along with re pricing on a monthly basis. From the perspective of the group’s treasury management, the inter-company loan will be utilized to retire the short-term loan obtained by the Company from the Standard Chartered Bank.
The board of the Company has approved the said transaction at the board meeting held on 27th May 2020. (IH)
0 comments: