FMO approves $ 10 m funding for Softlogic Finance

Monday, 3 December 2012 00:06 - - {{hitsCtrl.values.hits}}

Netherland’s financing agency FMO has approved the granting of $ 10 million loan to Softlogic Finance Plc, 60% of which will be disbursed shortly. The company said it entered into two agreements – a senior facility agreement and an unsecured convertible subordinated facility agreement – with FMO on Friday.

“The US$ 6 million senior loan will be disbursed to the company within the next two to three weeks whilst the US$ 4 million unsecured convertible subordinated loan will be disbursed once the approval of the Colombo Stock Exchange is obtained for the convertible feature of the latter,” Softlogic Finance said.