Published On:September 17 2013
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Coastal Energen to raise $300 through ECB
Coastal Energen Private Ltd (CEPL), which is setting a 1,200 MW coal-based Power project at Tuticorin, is planning to raise $300 million through External Commercial Borrowings to refinance exist loans.
Company officials confirmed plans to raise funds in foreign exchange. Given the volatility in the currency markets, no timeframe has been finalized yet for raising the money.
CEPL imports boiler, turbine and generator equipment from China. However, this risk is partly mitigated by availing buyer’' credit. Its plan to raise ECB ($300 million) would also postpone the dollar obligations.