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Private power producer Tata Power on Friday said its Mundra unit subsidiary has completed the refinancing of its outstanding external commercial borrowings (ECB) loans worth $770 million.
"Coastal Gujarat Power Limited, a wholly-owned subsidiary of Tata Power which implemented the 4,000 Mw Mundra UMPP, has completed refinancing of the outstanding ECB loans amounting to $770 million through a mix of rupee-denominated debt instruments and equity funding from the proceeds of divestment of non-core assets of the company," Tata Power said in its media statement on Friday.
The company expects the refinancing to help reschedule the cash requirements and reduce the effective interest
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