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IRFC to borrow $475 mn for rolling stock

IRFC to borrow $475 mn for rolling stock
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First Published: Wed, Sep 09 2009. 10 58 PM IST
Updated: Wed, Sep 09 2009. 10 58 PM IST
Hong Kong: Indian Railway Finance Corp. (IRFC), the funding arm of the state-run rail network, will borrow $475 million (around Rs2,300 crore) from banks to buy rolling stock, said managing director R. Kashyap.
New Delhi-based IRFC is in talks on a $400 million club loan with a group of six lenders and a $75 million loan from State Bank of India and Union Bank of India, Kashyap said in a telephone interview on Tuesday.
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First Published: Wed, Sep 09 2009. 10 58 PM IST
More Topics: IRFC | Rolling Stock | Loan | SBI | UBI |