(Bloomberg) -- Unitech Ltd., India's most valuable
real-estate company, and Parsvnath Developers Ltd. will have to
pay more for loans because of a ban on overseas borrowing,
forcing them to incur the highest interest costs in five years.
The finance ministry's May 18 ruling will push up Unitech's
funding charges at least 5 percentage points, Managing Director
Sanjay Chandra said. Parsvnath was quoted 14 percent interest on
a loan from an Indian state-owned bank, Chief Financial Officer
Ravi S. Pani said.
Read more at Bloomberg Emerging Markets News
real-estate company, and Parsvnath Developers Ltd. will have to
pay more for loans because of a ban on overseas borrowing,
forcing them to incur the highest interest costs in five years.
The finance ministry's May 18 ruling will push up Unitech's
funding charges at least 5 percentage points, Managing Director
Sanjay Chandra said. Parsvnath was quoted 14 percent interest on
a loan from an Indian state-owned bank, Chief Financial Officer
Ravi S. Pani said.
Read more at Bloomberg Emerging Markets News
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