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    HomeNewsBusinessIL&FS raise $55 m in rupee loan from Mashreq Bank

    IL&FS raise $55 m in rupee loan from Mashreq Bank

    The group will use the funds for its financial services business, IL&FS Financial Services managing director Ramesh C Bawa said. The three-five year loan is priced at around 10 percent, he added.

    PTI
    May 07, 2018 / 21:24 IST
       
       
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      The IL&FS Group today said that it has raised USD 55 million in masala loans (rupee loans) from the UAE-based Mashreq Bank.

      The group will use the funds for its financial services business, IL&FS Financial Services managing director Ramesh C Bawa said. The three-five year loan is priced at around 10 percent, he added.

      Mashreq Bank is also looking to collaborate with the IL&FS Group across various business segments including renewable energy, surface transport, GIFT city and education.

      PTI
      first published: May 7, 2018 09:20 pm

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