CIL TO RAISE Rs1,200 CR FROM DOMESTIC DEBT MARKET
Article Abstract:
Coal India Ltd (CIL) proposes to raise Rs1,200 crore from the domestic debt market in 1998-99. It plans to raise the funds by partial securitisation of the Rs4,200 crore worth coal dues of the state electricity boards (SEBs). CIL proposes to float a government guaranteed bond. It has refused to take on the interest payout against the government guaranteed bond. The government proposes to ask the SEBs to bear the interest burden against CIL's securitised bond. CIL has appointed SBI Caps for structuring the securitised bonds. Securitisation of coal dues and issue of bonds will enable CIL to fund its Rs13,000 crore investment plan for the Ninth Plan period (1997-2002). (vv)
Comment:
Proposes to raise Rs1,200 crore from domestic debt market in 1998/99
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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SCI TO BUY 7 LARGE CRUDE OIL TANKERS FOR Rs600 CRORE
Article Abstract:
The Shipping Corporation of India (SCI) is on the verge of acquiring seven large crude oil tankers for a sum of Rs600 crore. Of these, four are Aframax vessels and three are LR2 vessels. The Aframax vessels weigh 110,000 dead weight tonnage (dwt) and the LR2 vessels weigh 85,000 dwt. The new vessels will replace the old fleet. SCI is also trying to expand its fleet capacity to import more crude for the new refineries. (uh)(m)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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