GFG Alliance, which operates in the local steel industry, has obtained a term loan from Eclipse Business Capital in the US for USD 40 million (about Rs330 crore).
The money, which was raised through the group firm Liberty Steel USA, would be used to refinance the company’s current term loan, according to a statement released by GFG Alliance on Monday.
In order to refinance its existing term loan before its maturity in January 2023, Liberty Steel USA said that it had “successfully raised a USD 40 million term loan with Eclipse Business Capital.”
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