Mukand has executed a Term Loan Agreement with a Bank on September 26, 2020 for availing a promoter backed unsecured term loan at competitive rate of interest, initially for an amount of Rs 650 crore and an additional loan amount of Rs 350 crore, subject to approval of the shareholders of the company for increase in borrowing powers of the company, thereby aggregating to Rs 1,000 crore.
The tenure of the loan is for 2 years and the disbursement of the term loan is subject to fulfilment of certain conditions. The aforesaid loan will be utilised for refinancing existing high cost borrowings of the company which should result significant saving of interest costs.
Mukand is a multi-division, multi-product conglomerate involved in the manufacture of specialty steel long products and heavy machinery.
Company Name | CMP |
---|---|
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Tata Steel | 165.40 |
SAIL | 162.85 |
Jindal Stainless | 738.40 |
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