S.A.L. Steel LimitedSALSTEELNSE
SAL Steel avails Rs. 75 crore term loan and renews working capital facilities
As filed · S.A.L. Steel Limited has informed the Exchange about availing Term Loan of Rs 75,00,00,000 (Seventy Five Crore only) from Kotak Mahindra Bank Limited
CapitalMixedMinormateriality 55 out of 100
What happened
FactSAL Steel availed an additional term loan facility of Rs. 75,00,00,000 from Kotak Mahindra Bank, alongside renewal of existing working capital facilities of Rs. 49,00,00,000. The facilities carry interest at 10%, are repayable within 60 Months, and are intended partly to repay an ICD of AIA Engineering Limited.
Why it matters
CapitSignal interpretationNew borrowing adds interest cost and covenants ahead of equity in the capital structure.
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Fact- Coupon and tenor
- Purpose of the borrowing
- Resulting net-debt level
Evidence
How CapitSignal classified this
- Reasoning:
- The disclosure indicates new borrowing and continued bank financing, with the facilities secured by the company’s current assets and supported by personal and corporate guarantees. The stated use includes part repayment of an ICD of AIA Engineering Limited.
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%