Century Plyboards plans to raise US$50m

Century Plyboards plans to raise US$50m
Published: 03 May 2011

Century Plyboards plans to raise US$50m via external commercial borrowings (ECBs) at five per cent interest. Sources say that money raised via ECBs would be utilised for expanding cement capacity.  Century Plyboard aims to increase its cement capacity from 1.2Mta to 3.2Mta.

The money would be raised in tranches and as per requirements over the next few quarters. Company has already got arrangements in place with Allahabad bank and Bank Of Baroda for raising ECBs.