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Article: Idea considers refinancing its debt to reduce the interest burden.(Brief article)
- Article from:
- India Telecom
- Article date:
- May 1, 2006
CopyrightCOPYRIGHT 2006 Information Gatekeepers, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Idea Cellular is considering refinance of its debt of about Rs 40 billion ($909 million) in order to reduce an annual interest burden of Rs 300 million ($6.82 million). The current cost of interest is 9 to 10 percent; that is likely to fall below 8 percent post refinancing. The debt is short term in nature and is financed by IDBI and other financial institutions. Sources have revealed that in a rising interest rate scenario it would be advisable for Idea Cellular to go for ...
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