Sunshine Holdings-IFC enter into US$ 5mn long-term loan agreement

Sunshine Holdings PLC yesterday said the International Finance Corporation (IFC) of the World Bank and its fully owned subsidiary, Sunshine Consumer Lanka Limited, have entered into a long-term loan facility of US$ 5 million subject to conditions.

However, in January, Sunshine Holdings said the IFC board had approved a US$ 7 million long-term loan facility for the company for investments in the consumer and energy sector. 

Yesterday’s stock market disclosure however said the IFC loan, which has been downsized to US$ 5 million, would be utilised for investments in the consumer sector.