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.