Power-packed M&A thrust
It can be a pure 'make-in-India' story in the making. Ever since the US has decided to pull out of the historic 'Paris Accord on Climate Change,' the weather for the renewable sector in the country is turning out to be exciting.
EESL raises domestic bonds to fund energy efficiency projects in India
Energy Efficiency Services Limited has made its maiden issuance of bonds in the domestic market to fund energy efficiency projects in India. Domestic bonds worth Rs 500 crore were issued to investors on private placement basis at a coupon rate of 8.07 per cent per annum.
UDAY An Ambitious Indian Distribution Sector Bailout
With our discoms posting staggering losses and drowning in debt, UDAY is geared towards achieving tangible goals with a sensible method that represents a multi-pronged approach to rid the sector of its chronic ailments.
The Cash Crunch
Public sector banks in India are staring at humongous piles of bad debts, delinquent loans are rising unabated. Ballooning bad debts have caused 10 Indian state-owned banks to report losses of a whopping Rs.153 billion for the March, 2016 quarter. India Ratings, a Fitch associate, estimates that 21 per cent of the total bank credit is stressed.
Ushering in a new Dawn
Ujwal Discom Assurance Yojana (UDAY) announced in the first week of November 2015 to overhaul the operations of distribution companies (discoms) though a slew of carrots and sticks has evoked hopes that the scheme could usher in a new dawn for the Indian power sector, which has been saddled with numerous problems.
PGCIL to get $2 bn loan from multilateral agencies
The Indian government is in talks with international multilateral financial agencies such as Asian Development Bank and World Bank seeking loan worth $2 billion for PGCIL, said a source close to the development.
Suzlons FCCB proposal
Suzlon Group, the world´s fifth largest wind turbine maker, has announced that the holders of each series of its Existing Bonds (due in October 2012, July 2014 and April 2016) have approved the proposed restructuring of the Existing Bonds including the terms
Mauritius orders freeze on Shiv-Vani Oil onshore assets
Mauritius' top court has ordered a freeze on all onshore assets of Delhi-based Shiv-Vani Oil & Gas Exploration Services for failure to redeem $84 million (Rs 600 crore) worth of bonds. Onshore drilling rig operator Shiv-Vani's foreign currency convertible bonds (FCCBs) were due in mid-2013. Its offshore lenders had approached the Supreme Court of Mauritius.
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