Ircon International provides corporate guarantee for term loan extended to subsidiary
Ircon International has furnished a Corporate Guarantee to Bank of Baroda for providing the term loan of Rs. 724.12 crore to Ircon Vadodara Kim Expressway (IrconVKEL), a Special Purpose Vehicle (SPV) (a wholly
owned-subsidiary) of IRCON.
Post disbursal of loan by Bank of Baroda to IrconVKEL, IrconVKEL will repay the existing loan of IRCON of Rs.589.50 crore, thereby reducing the Financial Investments of IRCON.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Jun 30 2021 | 11:34 AM IST