Power Grid defers $50m external debt plan
REUTERS
NEW DELHI, January 23: Government-owned electricity transmission firm, POWER Grid Corporation Ltd has deferred a $50 million external commercial borrowing (ECB) scheduled for this month."Currency crisis in South East Asia has led to the decision," PTI quoted Power Grid officials saying. "Our bankers are not sure of the present market conditions and have decided not to go ahead with the ECB," they said. Power Grid had chosen ANZ Grindlays to syndicate the loan, PTI said.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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