Essar Energy progresses towards new loan agreement
Essar Energy has said that its subsidiary Essar Oil has made significant progress with its lenders towards exiting the current loan agreement, which relates to the corporate debt restructuring scheme and its Vadinar oil refinery in Gujarat.
Essar Energy has said that its subsidiary Essar Oil has made significant progress with its lenders towards exiting the current loan agreement, which relates to the corporate debt restructuring scheme and its Vadinar oil refinery in Gujarat.
The energy giant is already in discussions to replace its master restructuring loan with a new loan facility.
Essar Oil has made "significant" progress with its lenders to leave the restructuring scheme and believes it will entrer a new facility on revised terms.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The share price rose 5.31% to 154.60p by 15:36.
NR
-
Zoopla: UK property supply hits eight-year high ahead of general election
News More homeowners are putting their properties up for sale but many are relisting after failing to find a buyer last year - is now a good time to buy?
By Marc Shoffman Published
-
What’s happening to the NatWest share sell-off? Impact of general election 2024 explained
The UK government has held shares in NatWest Group since the 2008 Financial Crisis. But a plan to sell off a large chunk of them appears to have been delayed.
By Henry Sandercock Published