Profit

Sterlite's raising $1.6 bn through debt

PUBLISHED ON: July 16, 2008 | Duration: 2 min, 16 sec

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Anil Agarwal's mega plans for an IPO of Sterlite Energy may have been shelved but the company has tied up a huge loan for the project. Sterlite Energy is raising over Rs 6,000 crore through loans in what clearly is the largest debt mop up by an Indian company this year. Sources have told NDTV that Sterlite Energy will raise $1.6 billion as syndicated loan from SBI Caps, IDBI Bank and Deutche Bank to invest in Sterlite Energy's 2400 MW power project in Orissa.
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