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SBI-led consortium advances Vodafone Idea loan; NaBFID to approve ₹4,000 cr, PNB and Union Bank to decide

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SBI-led consortium advances Vodafone Idea loan; NaBFID to approve ₹4,000 cr, PNB and Union Bank to decide

SBI-led consortium advances Vodafone Idea loan; NaBFID to approve ₹4,000 cr, PNB and Union Bank to decide

Vodafone Idea's proposed Rs 35,000 crore consortium financing has made further advances, with atleast Punjab National Bank, Union Bank of India expected to decide its exposure by the end of the month, bankers aware of the discussions have told ETBFSI. Infarstructure financier NaBFID is also expected to approve a Rs 4,000 crore exposure shortly.

* SBI, the lead lender, has approved the proposal and circulated its appraisal to other consortium participants.* PNB, Union Bank of India will participate in the consortium, with their individual exposure yet to be finalised.* NaBFID is expected to approve Rs 4,000 crore, adding another institutional lender to the financing arrangement.

Vodafone Idea's proposed Rs 35,000 crore consortium financing is progressing, with public sector banks now working towards finalising their individual exposures after lead lender State Bank of India ( SBI ) approved the proposal and circulated its appraisal to other participating lenders. Punjab National Bank (PNB) will participate in the consortium and is expected to decide the quantum of its exposure within the next 10 days, while Union Bank of India is likely to take a call by the end of November, according to people aware of the discussions. Meanwhile, the National Bank for Financing Infrastructure and Development (NaBFID) which wasn’t a part of the old consortium is expected to approve a Rs 4,000 crore exposure shortly, a bank official told ETBFSI. Advt

SBI has completed its appraisal of the proposed financing and shared the assessment with other consortium members, which will use it as the basis for their respective internal evaluations and approvals.


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