SAIL ties up USD 350 million ECB from SBI

SAIL intends to use the commercial borrowing to meet expenditure on capital schemes

GN Bureau | September 15, 2017


#Steel Authority of India   #SBI  
Steel Authority of India Ltd (SAIL) has tied up an external commercial borrowing (ECB) of USD 350 million with State Bank of India (SBI) for a tenure of seven years. 
 
The Maharatna enterprise wants to use the commercial borrowing, which has been arranged by SBI from its Hong Kong branch, towards meeting expenditure on capital schemes including modernisation and expansion. 
 
SAIL is in the final leg of completing its modernisation projects, wherein it aims to diversify its product basket with more value added products and ready to use products customised to the market demands. 
 
It has tied the ECB at the lowest possible spread and the overall cost would work out cheaper than that applicable coupon on term loans and bonds for similar period. This re-emphasises the lenders confidence in the credit worthiness of the company. 
 
SAIL is taking various management initiatives to enhance its operational excellence and overall productivity, performance and products.
 

Comments

 

Other News

Bhashini provides translation support at this great congregation of languages

The Ministry of Electronics and Information Technology (MietY) has offered technological support at the Maha Kumbh in Prayagraj being held from January 13 to February 26, 2025 with the integration of Bhashini for multilingual accessibility. ‘Digital Lost & Found Solution&rs

CSIR’s new Innovation Complex to foster translational research, industry collaboration

India is home to many small and big industries where research is carried out, yet many innovators are not able to find a platform to bring their ideas into fruition. Despite having a vast network of government laboratories that perform ground breaking research, these innovations struggle to translate into

Deepa Malik and the incredible story of her indomitable spirit

Bring It On: The Incredible Story of My Life By Deepa Malik HarperCollins, 312 pages, Rs 499

RINL gets Rs 11,440 crore revival plan

The Cabinet Committee on Economic Affairs (CCEA), chaired by PM Narendra Modi, has approved the revival plan for RINL for a total of Rs 11,440 crore. The infusion includes ₹10,300 crore as equity capital into Rashtriya Ispat Nigam Ltd. (RINL) and Conversion of ₹1,140 crore working capital loan as 7% No

How SpaDeX Mission revolutionises space exploration

In a historic achievement, the Space Docking Experiment (SpaDeX) mission’s docking operation was successfully completed on Thursday, marking India’s entry into the elite group of nations capable of executing space docking operations. With this success, India becomes the fourth country in the wo

New insights into the Ramayana’s deep cultural resonance

Many Ramayanas, Many Lessons By Anand Neelakantan HarperCollins, 456 pages, Rs 599 The Ramayana, one of the most

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now



Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter