Aryanav Paper Mills Gets USD 21 Mn Low Cost Debt from UK-based Linetrust International Offshore Limited
The company will use the money to setup a 54,000 TPA Hi-BF Kraft Liner and Top White Liner manufacturing unit.
November 8, 2016
As per media reports, Aryanav Paper Mills Private Limited of India has entered into a long term financial association with Linetrust International Offshore Limited of the UK. Under this association the UK based firm will provide 21 million dollar as long term debt. The Telangana based Aryanav Paper Mills is engaged in the business of manufacturing of Hi-BF Kraft Liner and Top White Liner in the state. The company will use the money to setup a 54,000 TPA Hi-BF Kraft Liner and Top White Liner manufacturing unit as per reports.
This was announced at a function to organize the Joint Association Ceremony at the Inter-Continental Mid Plaza Hotel, Jakarta, Indonesia. Director of Capitico PRG Pvt. Ltd., Mr. Dhruv Goel, who was presenting the association, was quoted as saying, “This association can change the dynamics of the paper industry in India. Currently banks and financial institutions lend to corporates at around 11 & 12% p.a. With Linetrust providing long term debt at 4% max p.a. will have a huge impact on the bottom-line of the company.”
Linetrust International in its statement has underlined the need for low cost debt for corporates to fight rising cost of recycle waste paper pulp, one of the raw material for manufacturing Kraft Liner paper. With affordable debt under 4% p.a. to corporates, Linetrust will help create a major impact on the topline and bottomline of companies.
The Linetrust Group, whose ASEAN office is in Jakarta, Indonesia, has been in the business of lending in the traditional brick and mortar sectors has now seamlessly aligned its business strategies to adopt to the new age technology financing. It’s a form of working capital. The group has decided to open a close ended fund to the tune of USD 600 Mn to exclusively cater to the ASEAN markets with prime emphasis on the Indonesian markets.