ABN Amro Sec Arranges Rs 1,000 Cr For Balco

Mumbai, September 16: | Updated: Sep 17 2003, 05:30am hrs
Bharat Aluminium Company Ltd (Balco) has signed a Rs 1,000 crore syndicated debt arrangement facility with banks lead-arranged by ABN Amro Securities. The loan has a maturity period of six years and is to be repaid in 12 equal instalments commencing at the end of 39 months.

The response to the syndication was extremely good and witnessed participation by 18 banks and financial institutions. This is the largest loan syndication transaction in India this year, and amongst the most widely participated deals ever, said ABN Amro Banks country-head for financial markets, Vishnu Deuskar.

Added Balcos vice chairman, Navin Agarwal: Balco is poised for exciting growth and this current expansion would transform Balco into a world class company. We are delighted with this successful syndication, which further reaffirms our Groups vision to be globally competitive in all lines of business.