Loan Refinancing

Reliance Industries seeks up to $3 bn loan to refinance debt due in 2025

About half a dozen banks are in discussions with the Indian conglomerate for the loan, which would be syndicated to wider market in the first quarter of 2025

Most urban Indians aspire to own homes, prefer home loans: Report

52 per cent of people prefer apartments, according to Business Standard-Knight Frank report

EIB Global to provide 300 million euros loan for Bengaluru suburban railway

The European Investment Bank (EIB Global) will provide a 300 million euro (about Rs 2,800 crore) loan for Bengaluru suburban railway, a top official said on Friday. "This loan of 300 million euro is for building a new suburban railway network covering four dedicated rail corridors in Bengaluru. The network will stretch over a total of 149 km and include 58 stations and two depots" EIB Vice-President Nicola Beer said here. The project promotes a modal shift from road to rail and addresses congestion, air and noise pollution, road safety and greenhouse gas emissions while providing an affordable mobility solution to improve access to jobs and study opportunities, she said. Since 2016, EIB has provided loans worth 3.25 billion euro (about Rs 30,225 crore) for the transport sector across India, Beer said, adding that the country is the largest beneficiary of EIB transport financing outside Europe. Home to around 1.4 crore people and expected to reach 2 crore by 2030, Bengaluru is India

PFC, BEML ink pact to finance, infra projects in defence, railways

State-owned BEML and PFC have signed an agreement to finance and execute critical infrastructure projects, particularly in the areas of defence, rail transportation and infrastructure development. The Memorandum of Understanding (MoU) was signed between BEML CMD Shantanu Roy and Parminder Chopra, CMD of PFC in the national capital on Friday, BEML said in a statement. BEML and PFC entered into a strategic MoU which aims at intensifying cooperation in financing and executing critical infrastructure projects, particularly in the areas of defence, rail transportation and infrastructure development, it said. "The partnership is a significant step forward in supporting India's infrastructure and defence sectors. The synergy between our expertise in infrastructure development and defence production, combined with PFC's financial strength, will help deliver transformative projects that will have a lasting impact on India's economy and security landscape," Roy said. In addition to rail and

Major world economies seek to halt financing of private sector coal deals

Under the plan, financial institutions would fund the early retirement of coal plants, rather than divest from these assets

Avaada Energy inks refinancing deal worth Rs 4,471 crore with NaBFID

Avaada Energy on Thursday said it closed a refinancing deal of Rs 4,471 crore with National Bank for Financing Infrastructure and Development (NaBFID) for its four solar projects in Rajasthan. The financing from NaBFID will enable Avaada Energy to prepay existing loans to multiple lenders. The facility, sanctioned and disbursed as a 20-year rupee term loan, achieves significant commercial improvements over the earlier facilities prepaid, the company said in a statement. "Avaada Energy is pleased to announce the successful closure of one of the largest refinancing transactions in India's renewable energy sector, securing about Rs 4,471 crore (USD 535 million) from the state-owned lender NaBFID," the statement said. This refinancing transaction, conducted under Restricted Group (RG) structure, encompasses four inter-state transmission system-connected solar projects with a combined capacity of 1,700 MWp. The structure has been rated as 'AA (Stable)' by CareEdge Ratings, it said. Vine

Moody's downgrades ratings of 17 Chinese local govt financing vehicles

It left the ratings of nine other Chinese LGFVs unchanged but cut their outlooks to negative too due to the same pressures.

Pak seeks $600 mn in loans from China banks to bridge financing gap: Report

Cash-strapped Pakistan has sought USD 600 million in fresh loans from two Chinese banks to bridge a big financing gap as it negotiates with the IMF for the release of the second tranche of a USD 3 billion bailout package, a media report said on Wednesday. Citing sources, The Express Tribune newspaper reported that the federal government was in negotiations with the Industrial and Commercial Bank of China (ICBC) and the Bank of China for a total loan of USD 600 million. Each bank has been approached for USD 300 million in financing. Negotiations are at an advanced stage and loans are expected to be received by next month, according to officials of the finance ministry. Ministry of Finance spokesman Qamar Abbasi did not respond to queries, the report said. Abbasi also did not respond to a query on whether Pakistan had sought another loan from the State Administration of Foreign Exchange (SAFE) of China. SAFE has already given USD 4 billion in loans that are rescheduled every year due

Adani Group in talks to refinance $3.5 bn debt taken for Ambuja takeover

The Indian conglomerate backed by billionaire Gautam Adani has been in talks with lenders for several months as it seeks to refinance as much as $3.8 billion worth of debt taken for Ambuja acquisition

Brics' NDB to provide $173 mn loan to TCTA for Lesotho water project

The New Development Bank (NDB), which was established by the BRICS bloc, and the Trans-Caledon Tunnel Authority (TCTA) have inked a loan agreement for the implementation of phase II of the Lesotho Highlands Water Project (LHWP). The NDB will provide a project loan of 3.2 billion South African Rand (USD 173 million) to TCTA under the sovereign guarantee of South Africa. Lesotho is a small landlocked country bordered on all sides by South African provinces. The LHWP is a multi-phased project to provide water to the Gauteng region of South Africa and to generate hydroelectricity for Lesotho. The Loan Agreement was signed by Vladimir Kazbekov, Vice President and Chief Operating Officer of NDB and Percy Sechemane, Chief Executive Officer of TCTA, on the sidelines of the 15th BRICS Summit currently taking place in Johannesburg. TCTA, a state-owned entity in South Africa charged with financing and implementing bulk raw water infrastructure projects, will use the funds to construct the ...

Rank loans, save money, seek advice: Strategies to get out of debt

Recovery agents cannot harass debtors and have to take consent before visiting them

Vedanta Resources needs to be proactive about refinancing $1 bn bond: S&P

In April this year, the rating agency said that a credible refinancing plan at least six months before maturity, due in Jan 24, would be important to maintain the current rating

Times Group owners initiate talks with financiers as firm's partition looms

The funding lines being discussed will be backed by the group's assets and its cash flows, according to the report

Home loan borrowers turn to refinancing amid rise in interest rates

Lenders cut spread to attract new customers

Indian Bank ties up with Toyota Kirloskar Motor to offer vehicle financing

Public sector Indian Bank has inked a pact with automaker Toyota Kirloskar Motor to offer vehicle financial options to its customers, the bank said on Tuesday. The tie-up would offer various initiatives including 90 per cent on-road funding with no processing fee, foreclosure and party payment charges to prospective customers. The development will now enable bank's customers, especially in the rural and semi-urban markets to buy their vehicles from Toyota Kirloskar Motor, the city-headquartered Indian Bank said in a statement here. "This is yet another step by Indian Bank to enhance banking experience of our customers. As a bank, with pan-India presence, especially in rural and semi-urban areas. This association will further boost our auto-financing segment," Indian Bank executive director Imran Amin Siddiqui said. "Digitization of loan procedures has significantly reduced the turn around time for retail loan. We are keen to provide our customers comfort and convenience, by alignin

No refinancing, capital plans at HK roadshow, says Adani Group CFO

When asked "Are you looking to refinance any debt?" on the sidelines of the Hong Kong roadshow Tuesday, Singh said: "No, we don't have anything major at all"

Adani Transmission to announce debt refinancing plans in few weeks: Report

The company has no plans to raise additional debt for capital expenditure, which it plans to cover with operating cash inflows, the executives said, according to the source

No refinancing, liquidity issues, says Adani to calm jittery investors

Adani has rejected the concerns in detailed rebuttals of the Hindenburg report's allegations and criticism that it had unsustainable debt

RE firms may use rupee loans to refinance $3 bn overseas green bonds

Costly overseas funds forcing them to tap domestic sources

Adani Green announces raising JPY denominated facility to refinance debt

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