HGEL logo
HGEL logo

Ithuba to facilitate credit enhancement program of HGEL

ANI | Updated: Aug 05, 2019 15:07 IST

Mumbai (Maharashtra) [India] August 05 (ANI/NewsVoir): Ithuba Credit Corporation Ltd and High Ground Enterprises Ltd (HGEL), through its Singapore subsidiary gets into an advisory appointment arrangement for the specific purpose of jointly creating a 'Credit Enhancement Program'.
The appointment was signed through a first 'Term-Sheet' confirming the willingness of both parties to proceed on June 25, 2019, between Ithuba, which was represented by its CEO - Jean-Baptiste Bilala, and HGEL Chairman - Sandeep R Arora. This Agreement was fully approved by HGEL Board during a special Board Meeting of the Company held last week at their Head-Quarters in Mumbai.
The credit enhancement program led by Ithuba will facilitate the fund requirement of HGEL group needed for their global project(s) in both their divisions; Under EPC and Infra division the projects will be namely in the Power and Renewable energy sector (Electric Charging Stations and facilities), Water resources and river development, rural sector (consultancy and training) and Hybrid Annuity Mode Projects.
Whereas under media and allied activities, the areas of development will be - content development, post production and technical services and to build up strength and niche positioning in the advertising, media and content Integration space.
The credit enhancement private placement within the global economic area aims to qualify investors worldwide under private agreement with HGEL through the creation of a Medium-Term Note (MTN) Program, which will allow HGEL to raise funds for their Group development.
According to the MTN program, HGEL through its Singapore subsidiary will be able to place Ithuba debt securities, maturing in five (5) years with rolls and extensions, within the foreign market and obtain more cost effective financing, according to market analysts.
"The union between Ithuba and HGEL can validate its capacity to finance all their Institutional and Technological Development Projects", the Company said in a statement last week.
This will provide HGEL greater financial flexibility to support its growth and development of their projects above mentioned and the promotion of their high-impact institutional projects always considering long-term assets held under concessions, as well that will certainly help to extend the maturity profile of the company's debt and financing plan worldwide.
By diversifying its funding sources, HGEL continued to rely on the solid relationships it has developed with its historic banking and financing partners.
This issue of Private Placement Bonds was organized by Ithuba, acting as Principal Managers jointly with and on behalf of their new Client HGEL.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)