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The structure includes a $130 million facility and a $20 million scale-up option. MARS Growth Capital — a joint venture between Liquidity Group and MUFG Bank — will provide up to $100 million, with HSBC covering the remaining $50 million.
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The company will utilize these funds to retire its past debts, strengthen the balance sheet and boost the product technology, among other things.
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Naveen Tewari, Co-founder & Chief Executive Officer, Inmobi, suggests every startup go in for a debt round. "Its a cheaper form of capital, if your financials allow for it," he says.
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Swiss-based and London-listed Glencore earlier this month raised USD 2.5 billion through a share placement, part of a wider plan to cut its net debt by a third by the end of 2016.
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While there is no way to track debt taken out for share buy-backs alone, US corporations have taken out USD 59.4 billion in debt this year - or about 8 percent of the total amount of US corporate debt issued - to fund special dividends to shareholders, according to data from Dealogic.
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Green bonds enable capital-raising and investment for projects with environmental benefits such as renewable energy, sustainable waste management, biodiversity conservation, clean transportation and sustainable water management.
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OVL had raised Euro 525 million (about USD 712 million) through a 7-year bond issue in July last year to part finance its USD 4.125 billion purchase of a 16 percent stake in Mozambique's offshore Rovuma Area 1, which holds as much as 75 Trillion cubic feet of gas reserves.
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The Securities and Exchange Board of India (Sebi) found that AGIL had mopped up over Rs 92 lakh from nearly 1,100 investors through issuance of redeemable preference shares and had "prima facie" violated public issue norms.
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Down a shady lane buzzing with cicadas, a security guard stands inside the near-deserted park's administration building, its foyer featuring a reflecting pool and a two-storey-high stone relief of traditional Chinese figures in flowing robes.
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The deal, which includes the sale of healthcare-related loans worth USD 8.5 billion, brings GE one step closer to achieving its target of shedding about USD 100 billion worth of finance assets by the end of this year.
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360T is one of a handful of multi-bank, multi-user platforms which have revolutionized foreign exchange trading over the past decade. Deutsche Boerse beat US commodities and currency exchange operator CME Group in the auction, according to sources familiar with the deal.
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The Shanghai Composite rocketed 7.8 percent to 3,975 at the start of trade before paring gains over the course of the morning session. The benchmark index was last seen up 2.2 percent.
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State-run Food Corporation of India (FCI) has moved a proposal to raise Rs 40,000 crore through long-term bonds from LIC to liquidate subsidy arrears due from the government.
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Banks in India will not have access to these rupee-denominated offshore bonds "in any manner", the central bank said in a statement on its website.
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In a major deal for Saharas, billionaire brothers David and Simon Reuben have acquired control of the crisis-hit Indian group's iconic Grosvenor House hotel here and the two US properties -- Plaza and Dream Downtown -- in a USD 850 million (Rs 5,500 crore) debt refinance deal, a media report said.
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"Bharti Airtel has approached investors for issuance of debt instruments in the form of USD-denominated Senior Unsecured Notes," it said in a filing to BSE.
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In early April, the Reserve Bank of India said it will allow Indian companies to raise rupee-denominated debt offshore - known as "masala bonds" - but it has yet to issue the final guidelines.
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In an interesting turn of events,crisis hit Sahara has entered the fray for buying its own Grosvenor House hotel, which was put on sale by its lender Bank of China after a 'technical default'.
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Non-banking finance company Religare Finvest Ltd (RFL) will launch the issue on May 18 and it can raise the amount in one or more tranches.
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BPCL said that the notes will be listed on the Singapore Stock Exchange and the proceeds will be used for capital expenditures purposes. Shares of BPCL were trading at Rs 776.90 apiece, up 2.81 percent on the BSE.
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While all the four state-owned non-life insurers and the country's sole reinsurer GIC Re have committed to contributing Rs 750 crore to the pool, private sector non-life insurers have so far committed to contribute Rs 100 crore to the pool.
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Last month, Kishore Biyani-promoted Future Retail said it planned to raise up to Rs 1,500 crore through debt instruments to replace high cost loans and to invest on brand building and marketing.
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The issue size of the bonus debenture is of Rs 10,306.83 crore and it carries the Coupon Rate of 8.49 percent per annum payable annually, NTPC said in a statement.
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Some analysts have been saying that competitive pressures, especially the entry of Reliance Jio, would ensure that there would be minimum tariff hike.
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Last month, Future Consumer Enterprise fully acquired Aadhaar Wholesale Trading and Distribution by buying 30 percent equity stake from Godrej Agrovet and Anamudi Real Estates LLP. Prior to the deal, Aadhaar was a joint venture (JV) between Future Group and Godrej Agrovet Ltd. The Future Group owned 70 percent stake in the company.
