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.
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