Steel Exchange India Secured Rs. 350 cr of Refinancing facility at more favourable terms, leading to substantial savings in finance costs

Steel Exchange India Limited, a leading integrated steel manufacturer in South India, has announced a significant progress in its financial management. The Company secured sanctions of Rs. 350 crore of refinancing facilities from leading financial institutions, which were used to prepay existing high-cost NCDs and Term loan. This has resulted in a lower interest rate of approximately 5.50% compared to the earlier borrowing cost of ~18.75% per annum, leading to substantial savings. The revised financing arrangement also provides an extended repayment tenure of five years, expected to generate cumulative additional cashflow of approximately Rs. 130 crore till FY2028. This initiative underscores Steel Exchange India’s commitment to proactive liability management, prudent financial planning, and sustained value creation.