Sical Logistics signs Rs 115 cr Axis Bank loan agreements for refinancing and working capital

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₹93.26

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₹93.10

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AI summary

Sical Logistics has executed loan agreements with Axis Bank for up to Rs 115 crore. This includes a Rs 85 crore term loan over 9 years at 9.25 percent per annum to refinance existing Aditya Birla Finance-led consortium debt, plus Rs 30 crore in working capital facilities (Rs 15 cr cash credit and Rs 15 cr bank guarantee) at 8.25 percent per annum. Security includes pari passu charges on fixed and current assets.

Likely market impact

Refinancing may ease debt burden and extend tenure. New working capital lines support operations but add Rs 115 cr of obligations.