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Board of Emami Paper Mills approves conversion of ECB

Capital Market 

At meeting of the Finance Committee on 22 July 2019

Emami Paper Mills announced that the Finance Committee of Board of Directors of the company at its meeting held on 22 July 2019 has approved a fresh rupee term loan of Rs 35 crore at 1 year MCLR +0.35% by Allahabad Bank for conversion of existing ECB at rundown balance of USD 4.97 mn financed by Allahabad Bank, Hong Kong Branch along with cancellation of the above ECB facility on account of closure of the Hong Kong Branch.

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First Published: Mon, July 22 2019. 12:46 IST