Hotline: 1800 102 2007
Hotline: 1800 102 2007
Feb, 20 2018

Apollo Hospitals gives letter of comfort to Banks helping subsidiaries to raise funds

Apollo Hospitals has passed a comfort letter of Rs 71 crore to Yes Bank to permit Apollo Health and Lifestyles raise debt.

Apollo Hospitals gives letter of comfort to Banks helping subsidiaries to raise funds

Two of the subsidiaries, Apollo Health and Lifestyle and Apollo Specialty Hospitals of Apollo Hospital will be availed the credit facilities by issuing a letter of comfort to Yes Bank and HDFC Bank by the Hospital.

Apollo Hospitals has passed a comfort letter of Rs 71 crore to Yes Bank to permit Apollo Health and Lifestyles raise debt. Another letter of comfort amounting to Rs 30 crore is issued to HDFC Bank to enable Apollo Specialty Hospital, a step down subdiary, to raise funds.

The letter of comfort works like a guarantee wherein Apollo Hospitals will step in to honour the dues in case two of its subsidiaries fail to repay the loans in time. At times, letter of comfort improves the rating of the debt instruments and thus helps in reducing interest rates charged on the loan.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Sweetshop
    About Us: Chhappan Bhog is a reputed name in premium quality..
    Locations looking for expansion West bengal
    Establishment year 1981
    Franchising Launch Date 2019
    Investment size Rs. 50lac - 1 Cr.
    Space required 1000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater kolkata West bengal
  • Hospital Related Medical Products
    About Us: PRESENTLY MANUFACTURER OF GEL PRODUCTS LIKE HOT/ COLD GEL..
    Locations looking for expansion Tamil nadu
    Establishment year 2020
    Franchising Launch Date 2020
    Investment size Rs. 2lac - 5lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Chennai Tamil nadu
  • Quick Service Restaurants
    WOK HEI was established by Kotian Brothers(Prasad,Hari&Vinayak)in2008. WokHei has been the..
    Locations looking for expansion Haryana
    Establishment year 2012
    Franchising Launch Date 2020
    Investment size Rs. 20lac - 30lac
    Space required 600
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Gurgaon Haryana
  • Gourmet Stores
    “The Nut Lounge” stores are ‘Theme’ based Specialty stores opened und..
    Locations looking for expansion Haryana
    Establishment year 1950
    Franchising Launch Date 2020
    Investment size Rs. 30lac - 50lac
    Space required 350
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Gurgaon Haryana
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities