Gujarat NRE Coke Ltd (GNCL) has received the formal approval for the restructuring of the debts, from the Empowered Group of Corporate Debt Restructuring Cell (CDR).The salient features include:
• Debt restructured for 10 year door- to- door with two year moratorium and ballooning repayment.
• Funding of interest for two years
• Competitive pricing/interest rate
• Additional need based working capital aggregation to Rs.370 crores.
• Fresh Term Loan of Rs 50 cr for completing the Waste Heat Recovery Based (WHRB) power plants at Dharwad, Karnataka.
Speaking on the development Mr. Arun Kumar Jagatramka, CMD, Gujarat NRE Coke Ltd said, "The approval of CDR package establishes the fundamental viability of our business. The package would certainly help us in realigning our debts and help and help revive the company."
• Debt restructured for 10 year door- to- door with two year moratorium and ballooning repayment.
• Funding of interest for two years
• Competitive pricing/interest rate
• Additional need based working capital aggregation to Rs.370 crores.
• Fresh Term Loan of Rs 50 cr for completing the Waste Heat Recovery Based (WHRB) power plants at Dharwad, Karnataka.
Speaking on the development Mr. Arun Kumar Jagatramka, CMD, Gujarat NRE Coke Ltd said, "The approval of CDR package establishes the fundamental viability of our business. The package would certainly help us in realigning our debts and help and help revive the company."
