Power India found that, the Rs. 739 Crores Corporate Debt Restructuring (CDR) proposal of Moser Baer India for Moser Baer Solar has received the in-principle approval from the bankers.
As captured by Power India earlier, Moser Baer Solar has approached the CER Cell for the above purpose in April 2012.
Moser Baer Solar’s Bankers are Punjab National Bank (PNB), State Bank of India (SBI), Bank of Baroda (BoB), IDBI Bank and Indian Overseas Bank (IOB) and a few other banks, which have give the above approval.
As per the preliminary information received by Power India…
- CDR will encompass a Rs 500-crore term loan, working capital loans of Rs 230 crore and the remaining Rs 9 crore of dollar loans.
- PNB’s exposure to MBS is to the tune of Rs200 crore, SBI’s Rs150 crore, IOB’s Rs130 crore and BoB’s Rs60 crore.
- Few other banks account for the rest i.e. Rs199 crore.
As a process of CDR, the approval will be followed by a new plan for repayment of Moser Baer’s loans. The company will be relieved from interest payment. Repayment tenure will be also extended.
More Literature on this topic:
- http://www.dnaindia.com/money/report_moser-solar-s-cdr-plan-gets-bankers-nod_1685805
- http://www.indianpowersphere.com/2012/04/moser-baer-solar-enters-debt.html
-------------------
No comments:
Post a Comment