S.A.L. Steel LimitedSALSTEELNSE
SAL Steel avails additional Rs. 75,00,00,000 term loan and renews Rs. 49,00,00,000 working-capital facilities.
As filed · S.A.L. Steel Limited has informed the Exchange about availing additional Term Loan of Rs 75,00,00,000 (Rupees Seventy Five Crore only) from Kotak Mahindra Bank Limited
CapitalMixedNotablemateriality 64 out of 100
What happened
FactSAL Steel availed an additional term loan facility of Rs. 75,00,00,000 from Kotak Mahindra Bank Limited and renewed existing working-capital facilities of Rs. 49,00,00,000, aggregating to Rs. 124,00,00,000. The facilities carry an interest rate of 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 filing discloses a significant new borrowing alongside renewed working-capital facilities. The borrowing is secured by the company’s current assets and specified movable fixed assets, with personal guarantees from Mahesh Kumar Agarwal and Kaustubh Agarwal and a corporate guarantee from Sree Metaliks Limited.
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%