Tata Power to refinance $300 mn debt; stock down
Tata Power is negotiating to refinance debt of $270 million, raised to buy assets of Indonesia's PT Bumi Resources, say reports.
By ET Bureau |
MUMBAI: Tata Power is negotiating to refinance debt of $270 million, raised to buy assets of Indonesia's PT Bumi Resources, say reports. The company had purchased 30% stake in two thermal coal mines and trading companies of Bumi for $1.1 billion in 2007. The acquisition was then backed by UK's Barclays Bank.
The stock was witnessing selling pressure and was at Rs 1231, down 2.55 per cent on the NSE. It touched a high of Rs 1250.05 and low of Rs 1211.40 in trade so far.
The stock was witnessing selling pressure and was at Rs 1231, down 2.55 per cent on the NSE. It touched a high of Rs 1250.05 and low of Rs 1211.40 in trade so far.
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