New Delhi: Hindustan Petroleum Corp. (HPCL) has refinanced about Rs 50,000 crore of debt at its Rajasthan refinery, securing a reduction of around 105 basis points in borrowing costs and targeting annual interest savings of about Rs 1,000 crore through a broader restructuring of the project's finances, Chairman and Managing Director Vikas Kaushal said on Friday.
The refinancing, effective October 3, is expected to save the company about Rs 470 crore to Rs 550 crore annually, Kaushal told analysts on an earnings call.
