Ga onbeperkt met Magzter GOLD
Krijg onbeperkte toegang tot meer dan 9000 tijdschriften, kranten en Premium-verhalen voor slechts
Poging GOUD - Vrij
Top banks scramble for PSU refmeryb ₹27,000 crore loan
Mint Mumbai
|November 20, 2024
India's top lenders are falling over each other to finance a ₹39,000 crore refinery being set up by Chennai Petroleum Corp. and Indian Oil Corp. in Tamil Nadu, in one of the largest corporate loan deals in recent times.
State-owned banks like State Bank of India (SBI), Bank of Baroda (Bo B) and Punjab National Bank (PNB) are among six lenders which have bid for the loan, two bankers aware of the development said. Of the ₹39,000 crore, 70% or about ₹27,000 crore would be debt, and the rest equity.
Established in January 2023, Cauvery Basin Refinery and Petrochemicals Ltd (CBRPL) is planned as a 75:25 joint venture between Indian Oil Corp. Ltd and Chennai Petroleum Corp. The proposed nine million tonnes per annum (mtpa) refinery will come up at Nagapattinam.
The loan's interest rate is likely to be linked to SBI's three-month marginal cost of funds-based lending rate or MCLR, the two people cited above said on the condition of anonymity. Following a recent revision, SBI's three-month l ndia's top lenders are falling MCLR now stands at 8.55%.
Dit verhaal komt uit de November 20, 2024-editie van Mint Mumbai.
Abonneer u op Magzter GOLD voor toegang tot duizenden zorgvuldig samengestelde premiumverhalen en meer dan 9000 tijdschriften en kranten.
Bent u al abonnee? Aanmelden
MEER VERHALEN VAN Mint Mumbai
Mint Mumbai
Beyond music, audio series strike a chord with youth
Pocket FM and Audible are seeing strong traction for audio series, especially in smaller towns
2 mins
September 23, 2025
Mint Mumbai
GEAPP's $7.5 bn push for clean grids
An alliance that installs renewable energy in developing countries wants to invest around $7.5 billion in its next five-year plan, executives said, and is seeking more philanthropic partners as richer nations cut government aid.
1 min
September 23, 2025
Mint Mumbai
The rush to return to the office is stalling
Big companies from Microsoft to Paramount and NBCUniversal are ordering workers to show up to the office more often. If only their staffs would heed the call.
3 mins
September 23, 2025
Mint Mumbai
SC to review probe into Air India crash
The justices also criticized the leak of AAIB's preliminary inquiry report, calling it “unfortunate”
1 min
September 23, 2025
Mint Mumbai
Voltas prays for October heat as GST 2.0 takes effect
Voltas Ltd management’s recent interaction with analysts to update about business environment and outlook brings no cheer for its investors.
1 mins
September 23, 2025
Mint Mumbai
It's time to reckon with the seven ugly sins of artificial intelligence
Each of them poses a clear and present threat but the rise of AI shouldn't make us gloomy if the world manages to regulate it
4 mins
September 23, 2025
Mint Mumbai
Tide enters unicorn club as TPG leads $120 mn fundraise
UK-based Tide has raised over $120 million in a funding round led by TPG, valuing the fintech company at $1.5 billion. Tide, which counts India as its fastest-growing market, was valued at around $650 million in 2021, according to data from market intelligence platform Tracxn.
1 mins
September 23, 2025
Mint Mumbai
KRBL chief Mittal calls ind director Chaudhary's exit 'hostile'
KRBL Ltd, the company behind the leading basmati rice brand India Gate Basmati Rice, has described the resignation of its independent director, Anil Kumar Chaudhary, as a ‘hostile’ move, dismissing his allegations of corporate governance lapses.
1 mins
September 23, 2025
Mint Mumbai
Stay alert to turbulence on India’s external front
An H-1B visa barrier that squeezes talent supply to the US could join other forces to put our balance-of-payments at some extra risk. Capital controls may need to tighten temporarily
2 mins
September 23, 2025
Mint Mumbai
Bond traders lean into 'sweet spot' amid doubts on Fed path
BlackRock Inc., PGIM and other Wall Street firms, bond-fund managers are sticking to trades that will likely pay off even if the Federal Reserve’s path is again knocked off course by surprising turns in the economy.
1 mins
September 23, 2025
Listen
Translate
Change font size