ESL, THYSSEN STAHL TO SIGN $300-M CONTRACT

Article Abstract:

Essar Steel Ltd (ESL) and Thyssen Stahl Union (TSU) of Germany are finalising a $300 million export contract. TSU is to pay the entire amount upfront to ESL to export steel goods within a time frame. The deal is initially for a 5-6 year period but could be extended to a $500 million deal over a 10 year period. ESL will use the funds to repay its $250 million floating rate note issue which matures in July 1999. TSU has asked for an export performance guarantee from Indian banks before entering into the deal. ESL will have to bear the interest cost on the upfront payment which it will pass on to TSU in the form of additional export of hot rolled coils. (khr)

Comment:

Essar Steel Ltd (ESL) and Thyssen Stahl Union (TSU) of Germany are finalising a $300 million export contract.

Germany, Capital expenditures, Iron and Steel Mills, New orders received, Steel Mill Products, Steel products, Essar Steel Ltd., Thyssen Stahlunion GmbH

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DABUR FIN IN SECURITISATION DEAL WITH BIRLA GLOBAL

Article Abstract:

Dabur Finance (DF) has signed a securitisation deal with Birla Global Finance Ltd (BGFL). It has transferred its receivables of Rs12 crore from automobile, medical equipment and plant/machinery financing to BGFL for Rs10 crore. The discounting for the securitisation works out to 17.25 percent. DF withdrawn itself from the retail business but it has not hived off the company. (rk)

Financial Services, Finance and Insurance, Alliances, partnerships, Birla Global Finance Ltd, Dabur Finance

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