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| Exchange Disseminated Time | Ortel Communications Ltd has informed BSE that Karnataka Bank Limited, the Lead Banker of the Company, in the consortium meeting with other bankers and Company held on June 22, 2015 has agreed to reduce the rate of interest of the existing loans availed by the Company from present rate of 14.25% per annum to revised rate of 13.50% per annum.
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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