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Ruias-promoted Essar Steel today said it prepaid Rs 205 crore of loans taken from Axis Bank.
The company had issued secured redeemable non-convertible debentures of Rs 10 lakh each aggregating Rs 205 crore to the private sector lender.
The coupon rate on the securities had been revised to 16.5% from 13.4% originally.
The company has prepaid 2,050 debentures of Rs 10 lakh each held by Axis Bank, the sole holder, after taking its consent and approval, the steel maker said in a BSE filing.
Essar Steel has a capacity of 14 million tonnes per annum with presence in India, Canada, the US, West Asia and Asia.
