NEW DELHI -- Bharat Sanchar Nigam Ltd. is planning to raise up to 150
billion rupees (about $3 billion) via bank loans, mainly to clear
arrears to equipment and services vendors who haven't been paid for the
past six months, three executives at the state-run Indian
telecommunications company said.
BSNL is looking to raise 120 billion rupees-150 billion rupees through five- or seven-year term loans and has appointed SBI Capital Markets to arrange the loans, two of the executives said. This is the first time in its history that BSNL is looking to raise bank loans, they added.
Separately, BSNL has asked the Department of Telecommunications to loan it 50 billion rupees as an immediate relief, the two executives said, without elaborating on any time frame for the funds to come in.
All the three people asked not to be named.
Wallstreet journal-BSNL to raise bank loans.
BSNL is looking to raise 120 billion rupees-150 billion rupees through five- or seven-year term loans and has appointed SBI Capital Markets to arrange the loans, two of the executives said. This is the first time in its history that BSNL is looking to raise bank loans, they added.
Separately, BSNL has asked the Department of Telecommunications to loan it 50 billion rupees as an immediate relief, the two executives said, without elaborating on any time frame for the funds to come in.
All the three people asked not to be named.
Wallstreet journal-BSNL to raise bank loans.
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