Companies

Aditya Aluminium achieves financial closure

The Aditya Aluminium smelter project of Hindalco Industries has achieved financial closure with a debt equity ratio of 75:25. The Rs.13,195-crore greenfield project is coming up at Lapanga in Odisha.

The project’s debt component of Rs.9, 896 crore carries a tenor of 12.5 years and is priced at 11.25 per cent per annum. SBI Capital Markets and IDBI Bank led the debt syndication and 28 commercial banks and financial institutions participated in the transaction.

The rupee term loan facility got oversubscribed 2.25 times, even as this facility represents one of the largest debt syndications launched in recent times.

Praveen Maheshwari, CFO, Hindalco, said that at a time when most companies were shying away from committing capex, Hindalco has chosen to stay its course and was delivering on its long-term strategic objective.

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Printable version | Jan 20, 2021 7:40:46 AM | https://www.thehindu.com/business/companies/aditya-aluminium-achieves-financial-closure/article3908180.ece

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