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                    [ArticleID] => 239309
                    [Title] => GIHL urged to put up P10.25B in new bonds to secure debt
                    [Summary] => Creditor banks of the National Steel Corp. (NSC) want Global Infrastructure Holdings Ltd. (GIHL) to put up P10.25 billion in new bonds to secure the balance of its payment for the steel firm.


GIHL, which belongs to the Ispat Group of India, will also have to secure a standby letter of credit for another P1 billion as part of its total payments to the creditor banks.


Upon signing of the Memorandum of Agreement among the creditor banks and GIHL, a P1 billion cash up front was paid by the Indian steel giant.


                    [DatePublished] => 2004-02-17 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1805266
                    [AuthorName] => Marianne V. Go
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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INDIAN COMPANIES ACT

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    [results] => Array
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                    [ArticleID] => 239309
                    [Title] => GIHL urged to put up P10.25B in new bonds to secure debt
                    [Summary] => Creditor banks of the National Steel Corp. (NSC) want Global Infrastructure Holdings Ltd. (GIHL) to put up P10.25 billion in new bonds to secure the balance of its payment for the steel firm.


GIHL, which belongs to the Ispat Group of India, will also have to secure a standby letter of credit for another P1 billion as part of its total payments to the creditor banks.


Upon signing of the Memorandum of Agreement among the creditor banks and GIHL, a P1 billion cash up front was paid by the Indian steel giant.


                    [DatePublished] => 2004-02-17 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1805266
                    [AuthorName] => Marianne V. Go
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

        )

)

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GIHL urged to put up P10.25B in new bonds to secure debt

By Marianne V. Go | February 17, 2004 - 12:00am

Creditor banks of the National Steel Corp. (NSC) want Global Infrastructure Holdings Ltd. (GIHL) to put up P10.25 billion in new bonds to secure the balance of its payment for the steel firm. GIHL, which belongs...

Business