Bajaj Hindusthan goes for ECB of USD 80 mn for funding capex

Mumbai, Dec 12 (UNI) Bajaj Hindusthan Ltd has signed one external commercial borrowing (ECB) agreement of US 80 million dollars (Japanese Yen equivalent) at Bangkok, for funding its capital expenditure and acquisitions.

Informing the BSE, the company said the syndicated term loan facility was arranged by various international banks including ABN AMRO, BNP Paribas, DBS, Standard Chartered, Rabo Bank and Bank of Tokyo Mitsubishi.

Ten banks across various geographies participated in the aforesaid syndicated facility and the loan carries an average maturity of 5 years. The coupon rate of loan will be London-inter bank offered rates (LIBOR) plus 65 basis points.

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