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India Inc lines up US$ 6.5 billion ECBs

The Economic Times:  March 15, 2007

New Delhi: India Inc's global march is driving it to look overseas for funding. Led by companies like Reliance Industries, R-ADAG, Hindalco and Suzlon, India Inc is set to raise nearly $6.5 billion through external commercial borrowings (ECBs) in the next three months.

According to banking sources, Hindalco is planning to raise ECBs to part-fund its Novelis acquisition while Suzlon Energy is planning an ECB issue to finance its over e1.02-billion bid for German wind power company REpower Systems. RIL and R-ADAG are planning to float ECBs for expansion.

As the ECB route allows corporates access to a huge fund pool, companies with large capex requirements tap them the most.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.