A banking source reported that lenders to Binani Cement in India have restructured INR 30 billion (€436.28 million/US$ 472.55 million) of loans, and added an INR 3 billion term loan.
The Joint Lenders' Forum (JLF) has also approved an INR 1.92 billion working capital limit for the company.
The Central Bank of India leads the 18-bank term loan and the 14-bank consortium on the working capital.
Binani Cement posted an INR 1.97 billion loss in the 2014 fiscal, compared to an INR 1.2 billion profit t
A banking source reported that lenders to Binani Cement in India have restructured INR 30 billion (€436.28 million/US$ 472.55 million) of loans, and added an INR 3 billion term loan.
The Joint Lenders' Forum (JLF) has also approved an INR 1.92 billion working capital limit for the company.
The Central Bank of India leads the 18-bank term loan and the 14-bank consortium on the working capital.
Binani Cement posted an INR 1.97 billion loss in the 2014 fiscal, compared to an INR 1.2 billion profit the previous year, and revenue fell 14% to INR 19.62 billion.
The company blamed low demand with the subdued infrastructure and real estate sectors.
