Archive for the ‘Spot Loan’ Category

JNPT raises $400 million dollar-denominated loan, other ports may follow suit

Thursday, February 20th, 2020

JNPT raises $400 million dollar-denominated loan, other ports may follow suit

MUMBAI: The country’s container that is largest handling port Jawaharlal Nehru Port Trust has finalized an understanding to boost a dollar-denominated loan of $400 million, or around Rs 2,660 crore, at near to a tenth of prevailing domestic borrowing prices.

This is actually the very very first loan that is dollar-denominated JNPT this is certainly also referred to as Nhava Sheva.

“The contract had been finalized yesterday evening. The mortgage is raised at 2.36per cent rate when compared with 12per cent that is the prevailing domestic rate,” delivery minister Nitin Gadkari told ET in the ongoing Maritime India Summit right right here on Friday.

“This ended up being my brainchild. ICICI Bank had been lending at 12%. (more…)