Restaurant Brands Asia Ltd's subsidiary executes facility agreement with Axis Bank Ltd, IBU, Gift City

PT Sari Burger Indonesia, subsidiary of Restaurant Brands Asia Limited has executed the facility agreement with Axis Bank Limited, IBU, Gift City on Wednesday, December 6, 2023 for availing secured term loan facility of an amount not exceeding in the aggregate of USD 17.54 Million.

The aforesaid term loan facility is secured by unconditional and irrevocable Standby Letter of Credit ('SBLC') in the name of Axis Bank Limited, IBU, Gift City from Axis Bank Limited of an amount not exceeding in the aggregate of Rs. 150 Crore (Rupees One Hundred and Fifty Crore) equivalent to USD 18.07 Million. The Company has accordingly provided security for issuance of the said SBLC from Axis Bank Limited.

Shares of Restaurant Brands Asia Limited was last trading in BSE at Rs. 115.70 as compared to the previous close of Rs. 115.45. The total number of shares traded during the day was 68286 in over 728 trades.

The stock hit an intraday high of Rs. 116.75 and intraday low of 115.00. The net turnover during the day was Rs. 7919093.00.

Source : Equity Bulls

Keywords

RestaurantBrandsAsia INE07T201019 PTSariBurgerIndonesia FacilityAgreement AxisBank GIFTCity