GMR Power unit refinances ₹2,700 crore debt, cuts costs
after close1 source ↓written by the desknot a recommendation
- borrowing cost
- 265 basis points
- 12.15%
- per annum
- 9.50%
- with a credit
- 9.25%
GMR Kamalanga Energy Limited has successfully refinanced ₹2,700 crores of debt, reducing its borrowing cost by 265 basis points from 12.15% to 9.50% per annum. This strategic move aims to enhance operational efficiency and profitability, potentially lowering costs further to 9.25% with a credit rating upgrade. 💼
The refinancing is expected to improve cash flow and strengthen the financial position of the power subsidiary, positively impacting market sentiment.
Not investment advice. For informational purposes only.