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News Brief | October 2013

Essar Energy agrees new $300 million corporate loan facility

Essar Energy plc has announced that it has upsized its existing $150 million loan facility with Axis Bank to $450 million, with the Export-Import Bank of China (Exim Bank) providing $300 million as a new lender. The facility originally agreed with Axis Bank was signed and disbursed in September 2012 and allowed for an increase to $450 million. The proceeds of the upsized loan will be used to repay an outstanding amount of $233 million under an existing bridge loan facility and for general corporate purposes.
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