Debt

Debt financing

Petronet LNG secures Rs.12,000-Cr term loan

Business Line   Petronet LNG  

New Delhi-based Petronet LNG has secured an INR 12,000 crore secured rupee term loan facility from a consortium of banks. The consortium includes State Bank of India, which led the consortium, and Bank of Baroda, with each bank sanctioning INR 6,000 crore. SBI Capital Markets served as the financial advisor to Petronet LNG for the competitive bidding process.Petronet LNG is a state-run entity and India’s largest importer of liquefied natural gas (LNG), controlling 43 percent of India’s LNG re-gasification capacity and managing approximately two-thirds of India’s LNG imports.The company plans to use the loan facility primarily for financing its Petrochemicals Project and other capital expenditure needs.