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News Brief | May 2016

Essar Power gets a loan breather

Bankers are likely to refinance Rs 18,000 crore worth of loans of Essar Power. Essar´s loans, borne principally by its subsidiaries, will be refinanced under the 5/25 scheme. This extends loan repayment for infrastructure companies by up to 25 years, which can be refinanced every five years.
This is the biggest refinancing so far this year and should provide a breather to the power firm which defaulted on bond repayments to Life Insurance Corporation of India (LIC) last year.
Contact: Essar Power
Website: www.essar.com
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