Power utility company CESC has sought its shareholders’ nod for Rs 1,841 crore term loan from banks. The company will require the same to finance a part of capital expenditure, working capital requirements and refinance part of its existing loan.
Moreover, ICICI Bank has offered Rs 300 crore, HDFC Bank Rs 250 crore, Karnataka Bank Rs 200 crore, Central Bank Rs 125 crore, SBI Rs 400 crore, Citi Bank Rs 416 crore and DBS Bank Rs 150 crore as term loan to CESC.
CESC is engaged in power generation and distribution in state of West Bengal. CESC is a fully integrated power utility with its operation spanning the entire value chain: right from mining coal, generating power, distribution of power.
