In an attempt to salvage the crucial deal with the Russian oil major Rosneft, Essar Oil has promised to prepay about Rs 800 crore loan to LIC immediately before signing the deal.
Essar has sent a prepayment notice to LIC and is negotiating the prepayment penalty with the institution, a person familiar with the matter told ET.
Essar Oil has also agreed to prepay up to 20% to all its lenders. Read More…
Credit By: ET Energy World
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