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    HomeNewsBusinessCompaniesEssar oil hopes to refinance $1.8bn of debt in 3-6 months

    Essar oil hopes to refinance $1.8bn of debt in 3-6 months

    Essar Oil has RBI approval for refinancing upto USD 2.27 billion of rupee debt to dollars, and so far it has refinanced USD 481 million.

    May 10, 2013 / 22:35 IST

    Essar Oil hopes to refinance about USD 1.8 billion worth of debt in 3-6 months, LK Gupta, chief executive officer and managing director, told reporters on Friday.

    "The focus is on dollarisation of debt. We expect to complete this in the next 3-6 months," Gupta said.

    Essar Oil has RBI approval for refinancing upto USD 2.27 billion of rupee debt to dollars, and so far it has refinanced USD 481 million.

    The privately-run refiner posted a net profit of Rs 2 billion in the quarter ended March. 31, from a loss of Rs 5.15 billion in the same period a year ago.

    first published: May 10, 2013 06:28 pm

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