Reports indicate that lenders of the debt-ridden Suzlon Energy may meet soon to take a final call on the corporate debt restructuring (CDR) exercise. Suzlon has asked bankers to provide the company with fresh loans of Rs 2,000 crore to meet payment requirements, Rs 3,000 crore as a working capital loan and a
Category: Infrastructure Finance
Post
Post
Bankers to take final call on debt recast for Suzlon
Reports indicate that lenders of the debt-ridden Suzlon Energy may meet soon to take a final call on the corporate debt restructuring (CDR) exercise. Suzlon has asked bankers to provide the company with fresh loans of Rs 2,000 crore to meet payment requirements, Rs 3,000 crore as a working capital loan and a
Post
MBL to tie up funds for Rs 5 bn highway project
A recent report by CRISIL Research shows that MBL Infrastructures (MBL) may attain financial closure for its over Rs 500 crore Bikaner–Suratgarh highway widening project during Jan-Mar 2013. The company was earlier awarded the project for Developing and Operation of Bikaner–Suratgarh Section of NH–15 in Rajasthan by the state government. The project has been awarded to the consortium led by MBL
Post
MBL to tie up funds for Rs 5 bn highway project
A recent report by CRISIL Research shows that MBL Infrastructures (MBL) may attain financial closure for its over Rs 500 crore Bikaner–Suratgarh highway widening project during Jan-Mar 2013. The company was earlier awarded the project for Developing and Operation of Bikaner–Suratgarh Section of NH–15 in Rajasthan by the state government. The project has been awarded to the consortium led by MBL
Post
Govt to decide on funding for state-run banks
Financial Services Secretary DK Mittal informed that the government would soon decide on allocation of funding to boost the capital base of public sector banks. He also said that boards of each of the banks that need capital would have to decide whether they want to infuse capital through a rights issue. Leading public sector banks that need capital infusion are
India
Post
Govt raises foreign investment limit in bonds
Government allowed foreign investors to invest up to $75 billion in Indian bonds compared to the earlier limit of $65 billion. The government raised this limit by allowing foreign investors to deploy an additional $5 billion each in corporate bonds issued by non-infrastructure companies and government bonds. Inves
Post
Issurers unsure of retail participation in bond issue
Issuers are not sure whether there would be sufficient participation from retail investors for their tax-free infrastructure bond issues in order to meet the regulatory requirement. According to government norms, issuers must raise at least 40 percent of the capital mopped up through public bond issue from retail
Post
Ramesh finds fault at microfinance model
Union Rural Development Minister Jairam Ramesh remarked that it is not possible to alleviate poverty through microfinance institutions (MFIs). In his valedictory address at the recently held Micro finance summit, the minister said one should be somehow more modest in the expectation of micro-finance and micro-finance institutions. To think that we are g
Post
REC to raise $500 mn via ECBs
Rural Electrification Corporation (REC) is in the process of raising $500 million through external commercial borrowings or ECBs. The company is said to have invited bids for ECBs and whosoever offers the cheapest rates would be selected, Rajeev Sharma, Chairman and MD of REC said. So far in the current fiscal, the company has raised and disbu
Post
Board allows McNally to raise upto Rs 1.2 bn
In a move that may contribute to the business growth of McNally Bharat Engineering, the board of the company cleared the proposal to issue non-convertible preference shares of up to Rs 120 crore in one or more tranches. Consequently, the board also permitted the raising of the authorised share capital of the firm to Rs 160 crore from Rs 40 crore earlier. In a communication to the stock exchange, the company said i