economictimes.com

SBI-led lenders to provide Vodafone Idea $3.5 billion debt

State Bank of India logoState Bank of India
Sig2.92Sen+1.90Env+0.04Soc+0.54Gov+0.82
Vodafone Idea logoVodafone Idea
Sig3.31Sen+2.83Env0.00Soc+0.62Gov+0.78

Lenders led by State Bank of India will provide Vodafone Idea $3.5 billion in debt financing under nearly 10-year terms. Conditions include billionaire Kumar Mangalam Birla remaining chairman during the loan and guarantees to cover repayment in case of default. Vodafone Idea plans to use the funds to improve its network and compete more effectively.

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