Ispat may refinance Rs 7,500 cr debt under CDR: Sources

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Ispat may refinance Rs 7,500 cr debt under CDR: Sources

Ispat is looking to refinance nearly Rs 7,500 crore debt under corporate debt restructuring (CDR), reports Vidhi Godiawala quoting sources.

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Ispat is looking to refinance nearly Rs 7,500 crore debt under corporate debt restructuring (CDR), reports Vidhi Godiawala quoting sources.

Sources add that SBI Capital and Bank of India are likely to help Ispat in arranging loans while SBI may lead the consortium. It is learnt that the debt will be raised under the name of Ispat Industries. Their interest rate on current rupee loans which is about Rs 6000 crore is between 12-13%. However, the company is looking at 10.75% interest on new rupee loans.

The company is looking to convert nearly USD 400 million to FCNRB loans.

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