Edelweiss to purchase US$492 Million Binani Cement Debt
Published by Joseph Green,
Editor
World Cement,
According to a report by Bloomberg, Edelweiss Asset Reconstruction Company is hoping to purchase approximately US$492 million in loans domestic banks made to Binani Cement Ltd.
Central Bank of India sold its 3.5 billion rupees of Binani Cement loans to Edelweiss last quarter. The company is in talks to buy the remaining Binani Cement debt held by other local lenders including State Bank of Bikaner & Jaipur and Syndicate Bank.
Edelweiss is finding opportunities after the stressed-asset ratio in the country’s banking system hit a 13-year high of 11.3% at the end of September.
Edited from source by Joseph Green. Source: Bloomberg
Read the article online at: https://www.worldcement.com/indian-subcontinent/15012016/edelweiss-purchase-million-binani-cement-debt-328/
You might also like
World Cement Podcast
Alfie Lloyd-Perks sits down with Christopher Ashworth, President of FLSmidth Cement, for a discussion covering: the journey to decarbonisation, the importance of partnerships and collaboration, the role of digitalisation, and more...
GCCA announces the launch of Low Carbon Ratings (LCR) for cement and concrete
The Global Cement and Concrete Association (GCCA) announces the launch of Low Carbon Ratings (LCR) for cement and concrete – a first-of-its-kind transparent global rating system that will enable cement and concrete to be identified based on their carbon footprints.
