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| Exchange Disseminated Time | Ortel Communications Ltd has informed BSE that, Srei Equipment Finance Limited, the largest lender of the Company, has agreed to extend a prompt payment rebate (PPR) of 1% on the Company's borrowings with effect from October 01, 2015. This along with the earlier rebate of 0.75% brings down the effective interest rate to 14.25%.
This will strengthen the Company's balance sheet and lead to notable savings in interest costs. In addition, the Company is actively working towards further reduction in overall interest costs. |
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