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Reliance raises Jaypee funds

Reliance raises Jaypee funds

Reliance Power has initia¡ted discussions with the Singapore government-owned investment firm, Temasek Holdings, to raise up to $500 million and tie up funding for the three Jaypee Group hydroelectric power assets that it is acquiring

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Reform agenda: Hoping for relief

Reform agenda: Hoping for relief

Hindsight: The rising interest rate is a grave concern for infrastructure companies. The beleaguered funding situation have seen a number of projects already been put on hold in the planning stage itself.

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PFC to issue tax free bonds

PFC to issue tax free bonds

State-run Power Finance Corp is in the process of issuing around Rs 150 crore ($23 million) worth of tax-free bonds across different maturities. While the firm would issue 10-year tax-free bonds at 8.04 percent, 15-year bonds at 8.41 percent, and 20-year bonds at 8.40

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Srei Infra hikes base lending rate to 18%

Srei Infra hikes base lending rate to 18%

Considering the rise in the cost of funds for the infrastructure sector, Srei Infrastructure Finance raised benchmark lending rate by 50 basis points. Thus, the new benchmark rate stands at 18 percent per annum effective from Sept. 1, 2013 compared to the earlier rate of 17.50 percent

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Financial strength ratings of banks downgraded

Financial strength ratings of banks downgraded

International ratings agency Moody's downgraded the bank financial strength ratings or BFSRs and the issuer ratings of some state-run banks viz. Bank of Baroda, Canara Bank and Union Bank. Moody's also downgraded by one notch their local currency deposit ratings. While it affirmed the ratings of Union Bank of India, it changed the outlook on its BFSR to n

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Firms look to raise funds from abroad

Firms look to raise funds from abroad

Media reports indicate that several companies, including Reliance Industries (RIL) are taking efforts to raise debt in dollar. Other firms who want to raise dollar funds include Essar Steel, Adani Enterprises and JSW Steel, reports indic