In a bid to restructure its Rs 6,800-crore long-term debt, Electrosteel Steels has inked pact with SBI-led consortium of 27 bankers. Under the corporate debt restructuring (CDR) programme, the existing debt will be repaid over a 10-year period. The package offers 31 months’ moratorium on repayment of principal long-term debt and 24 months’ moratorium on interest payments.
Further, the company will get a new term loan of around Rs 1,100 crore to complete the balance production facilities and nearly Rs 200 crore working capital refinance.
Electrosteel Steels is engaged in the manufacturing solutions for water supply and sewerage systems. ECL has been certified for ISO 9001:2000 standard by different bodies such as IRQS and BSI for the manufacture of DI pipes for water, sewerage, gas and ash transportation.
Further, the company will get a new term loan of around Rs 1,100 crore to complete the balance production facilities and nearly Rs 200 crore working capital refinance.
Electrosteel Steels is engaged in the manufacturing solutions for water supply and sewerage systems. ECL has been certified for ISO 9001:2000 standard by different bodies such as IRQS and BSI for the manufacture of DI pipes for water, sewerage, gas and ash transportation.
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