Ambeon Capital goes for $ 18 m foreign loan from UK firm

Monday, 24 March 2025 04:17 - - {{hitsCtrl.values.hits}}

Ambeon Capital PLC has said that it has decided to obtain a loan upto $ 18 million from AMCH Ltd., incorporated in England and Wales.

The obtaining of the loan is subject to the lender successfully raising the amount through issuance of bonds to prospective investors in England and Wale pursuant to an issuance of such investors of a prospectus settling forth the terms and conditions of the bonds.

The purpose is to settle existing borrowings of Ambeon Capital of Rs. 3.7 billion and investing remaining amounts in liquid assets with any proceeds arising from such investments.

Interest is at the fixed rate of 8% per annum on a bi-annual basis and the tenure is three years.

Ambeon said it has an option to convert the loan into equity by the issue of shares upon obtaining requisite regulatory and shareholder approval.