Nava Bharat Ventures’ Zambian subsidiary, Maamba Collieries Limited (MCL) has concluded accession of additional long term debt. With this, MCL’s integrated coal and power project is funded, with long term external total debt of $ 590 million (including the debt of $ 515 million for which the financial closure was announced earlier).
Following the disbursement of loan by the additional lender, MCL has repaid the sponsor bridge loan to Nava Bharat Group in full, pursuant to common terms agreement with the lenders.
Nava Bharat Ventures (NBV) operates in the business verticals of power generation, mining, ferro alloys and agri-business with multi-national operations spread over India, South East Asia and Africa.
