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Market Watch

Tuesday, 16 February 2016

Chased by banks, indebted midcaps cut informal deals with HNIs


With banks stepping up the pressure on stressed borrowers ahead of the financial year ending, many debt-laden midcap firms are learnt to be striking informal deals with high networth individuals (HNIs) for funds. These listed companies are said to be offering annualized interest rates as high as 50 percent, said one person who was approached by a struggling steel company for a six-month loan.


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