1st Sep 2014 08:12
LONDON (Alliance News) - Jubilant Energy NV Monday said its operating subsidiary in India has entered into a funding deal with Jubilant Enpro Pvt Ltd for an unsecured loan deal of approximately USD8.3 million.
The loan has a one-year tenor and an interest rate of 15.5% per year. It can be drawn in one or more tranches at any time until March 31, 2015.
Jubilant Enpro is owned by SS Bhartia and HS Bhartia, the co-chairmen of Jubilant Energy who hold an 85% stake in the business.
Jubilant shares were untraded Monday, quoted at 10.5 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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