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Moneycontrol.com >> Messageboard >> Stocks >> Suzlon Energy >> Suzlon, SCI, Delhi Int`l Airport may raise funds via ECB
   You are here :     Moneycontrol     MMB    Stocks      Suzlon Energy                         Most active discussions of 2006 , 2007 & 2008
Suzlon, SCI, Delhi Int`l Airport may raise funds via ECB (3)   25-Nov-09 16:00Track this thread   Tracked by (0)  
Posted by:   rpg70 on ( 25-Nov-09 16:00 )
Price : BSE: Rs 70.10 ( -1.82 % ), NSE: Rs. 70.15 ( -2.03 % )
According to sources, Suzlon is looking to raise USD 700 million at a tenure of three–six years via the ECB route. Also, Shipping Corporation, we understand is looking to raise between USD 200–300 million at a tenure of eight–ten years via ECBs. Similarly, the Delhi International Airport which is run by the GMR Infra group is looking to raise about USD 300 million for eight–ten years. Why this new found to raise funds via ECB? That’s because of the depreciating dollar and the falling rates in the global market as the risk appetite returns.

Dollar funding has become cheaper as compared to the rupee loan especially for companies which have their revenues in dollars. So it gets easier for them. These companies are raising these funds for their ongoing capital expansion plans. Suzlon shall raise almost 3000-3500 crores by this exercise and shall be a major step towrads debt restructuring.
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