Saturday, October 24, 1998
SBI, BankAm to take Telco $30m debt on books
State Bank of India and Bank of America, lead managers to Telco's $30-million external borrowing programme, have decided to take the entire loan amount on their books and dropped the original syndication plan. According to senior bankers, pricing of the ECB will not be affected by the rating downgrade announced by Standard & Poor's on Friday.
Caltex pays Rs 200 cr to Spic for majority stake in LPG joint venture
Caltex has paid in excess of Rs 200 crore to Southern Petrochemical Industries Corporation Ltd (Spic) for acquiring a majority stake in its on-going liquefied petroleum gas (LPG) venture. The move will aid Caltex to import, distribute and market LPG in the country.
Arochem deal awaits centre nod
The out of court deal struck by Southern Petrochemical Industries Corporation Ltd (Spic) with Madras Refineries Ltd in the disputed joint venture National Aromatics & Petrochemicals Corporation Ltd (Arochem) is awaiting the union cabinet's nod. The deal has already been cleared by the ministry of petroleum and natural gas.
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