Century Plyboards plans to raise $50 million via external commercial borrowings

Midcap plywood and cement player Century Plyboards plans to raise $50 milliion via external commercial borrowings (ECBs) at 5% interest cost. Decision to fund the expansion via ECBs would save a lot to company in interest costs

Sources in the know of the development say that money raised via ECBs would be utilised for expanding cement capacity.
Century plyboard aims to to increase its cement capacity to 3.2 million ton per annum from current 1.2 million ton per annum.

Money would be raised in tranches and as per requirements over the next few quarters. Company has already got arrangements in place with Allahabad bank and Bank Of Baroda for raising ECBs

Centuty Plyboards India Ltd. manufactures, sells and exports plywood and veneer. The company also offers cement, clinker, chemicals and adhesives.