Ortel Communications informs about company updates

29 Dec 2015 Evaluate

Ortel Communications has informed that, Srei Equipment Finance Limited, the largest lender of the Company, has agreed to extend a prompt payment rebate (PPR) of 1% on the Company’s borrowings with effect from October 01, 2015. This along with the earlier rebate of 0.75% brings down the effective interest rate to 14.25%. This will strengthen the Company’s balance sheet and lead to notable savings in interest costs. In addition, the Company is actively working towards further reduction in overall interest costs.

The above information is a part of company’s filings submitted to BSE.

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