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| The company has been declared sick by the Board of Industrial and Financial Reconstruction (BIFR) but managed to secure a AAA (So) rating by Crisil on back of the guarantee. |
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| The unconditional central government guarantee, merchant banking sources said, forms part of the indirect bailout offered by the government. |
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| Its parent company SAIL has already infused around Rs 375 crore as direct financial help to the company, which is poised for turnaround in 2004-05. |
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| The issue is a book built one with interest rates for 10 years ranging between 6.10 per cent and 6.4 per cent. |
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| The bond could, however, be eligible for staggered redemption in the eighth, ninth and tenth years. |
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| In order to fulfill the criteria of subscription by 49 investors as per private placement guidelines, the issue is being managed by 12 merchant bankers. |
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| Each of these has been mandated to arrange four investors, thus making a total of 48 investors, while a major insurance company is understood to lap up the rest. |
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| Some of the arrangers are SBI Capital Markets, DSP Merrill Lynch, ICICI Securities, SPA capital services, centrum finance, Dara Shaw. |
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