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Redington (India)’s arm negotiates refinance loan from bank

18 May 2013 Evaluate

Redington (India)’s wholly owned subsidiary (WOS) - Redington International Mauritius (RIML), had taken a five year term loan of $78 million during February 2012, at all-inclusive interest rate of LIBOR plus 5.50% per annum.  RIML has now negotiated a refinance loan from a bank for the same amount and similar terms, but at a lesser all-inclusive interest rate of LIBOR plus 3.50% per annum and prepaid the existing loan. This refinance will reduce significantly the company’s interest cost by approximately $2.5 million over the next 4 year period.

Redington (India) is engaged in the business of vendor-authorized end-to-end supply chain management of information technology (IT) hardware and software products. The company distributes a range of IT products, such as networking, storage, and enterprise products, as well as servers and software solutions.

Peers
Company Name CMP
Redington 349.60
Adani Enterprises 2682.00
Amrapali Industries 32.78
Maxgrow India 174.80
Rashi Peripheral 689.15
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