Share Alert, JSPL in focus after debt recast

Jindal Steel & Power (JSPL) released after market hours yesterday, 18 Feb. 2016, that it has executed a project which would qualify for the Reserve Bank of India's (RBI) 5/25 plan and is in discussion with the banks for diverse financing options including 5/25 plan. Considering the need to permit longer repayment time for term loans to projects which need elongated servicing time, RBI released 5/25 scheme to address this obligation.

State Bank of India said that the bank on 18 Feb. 2016 issued 30,000, Basel III compliant, Tier-ll bonds in the nature of debentures, of face value of Rs 10 lakh each at par, with ten year tenure, bearing 8.45 Percent/annum coupon and with call option after 5 years, totaling to Rs 3,000 crore on private placement basis. The declaration was made before market hours today, 19 Feb. 2016.

Gayatri Projects declared after market hours yesterday, 18 Feb. 2016 that Thermal Powertech Corporation India (TPCIL), a joint venture amid Gayatri Energy Ventures (a wholly-owned subsidiary of Gayatri Projects) and SembCorp Utilities (a wholly-owned subsidiary of SembCorp Industries) has signed a long time power purchase agreement (PPA) with the Telangana Power Distribution Companies. Under the power buy contract, 570 megawatts of power would be sold to the Southern and Northern power distribution companies of Telangana for a time of nine years.

Seamec released after market hours yesterday, 18 Feb. 2016, that it has entered into an agreement for the charter hire of vessel 'Seamec Princess' with Synergy-Subsea Engineeering LLC for undertaking job in Persian Gulf. The tenure of the agreement will be about 21 days subject to extension. The agreement commenced with mobilisation about 3 Feb. 2016. The value of charter will be about $1.3 million.

Shriram EPC released after market hours yesterday, 18 Feb. 2016 that it won 2 orders worth over Rs 430 crore. The company won an Rs 301.05 crore order from Ministry of Roads and Highways for constructing a 50 kilometer road in Chhattisgarh on engineering, procurement, and construction (EPC) basis. Further, the company also won an Rs 137 crore order from Drinking Water & Sanitation Department of the Government of Jharkhand.