11 months ago
Steel Exchange India Refinances Debt for ₹350 Crore
Steel Exchange India, a steel manufacturer, refinanced its existing debt.
They secured ₹350 crore from financial institutions.
₹150 crore has already been used to pay off old, high-cost debts.
The remaining ₹200 crore will be disbursed by October 10th.
This refinancing will lower borrowing costs and give the company more time to repay its debt.
This should improve their cash flow and financial flexibility.
The company expects to have an additional cash flow of ₹130 crore by FY28.
Steel Exchange India secured ₹350 crore in refinancing facilities.
₹150 crore has already been disbursed.
₹200 crore will be disbursed by October 10.
Refinancing will lower borrowing costs and extend repayment.
The company expects an additional ₹130 crore cash flow by FY28.
- Who
- Steel Exchange India
- What
- Refinanced existing debt facilities
- Where
- South India
- When
- ₹200 crore to be disbursed by October 10
- Why
- To lower borrowing costs, extend repayment tenure, and improve cash flow
Key facts
- Company
- Steel Exchange India
- Refinancing Amount
- ₹350 crore
- Disbursed Amount
- ₹150 crore
- Planned Disbursement
- ₹200 crore by October 10
- Financial Institutions
- Kotak Mahindra Investments, Oxyzo Financial Services, Kotak Credit Opportunities Fund
- Impact
- Lower borrowing costs, extended repayment tenure
- Additional Cash Flow
- ₹130 crore by FY28
Quotes
Suresh Kumar Bandi
Joint Managing Director, Steel Exchange India
“This proactive financial management positions us well to pursue our long-term business objectives with greater confidence.”
thehindubusinessline.com
Sources
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