India, March 25 -- In one of its largest-ever refinancing initiatives, the Indian Railway Finance Corporation Limited (IRFC) has signed a Rupee Term Loan agreement with Hindustan Urvarak and Rasayan Limited (HURL) for a staggering Rs 12,842 crore.

The deal, aimed at refinancing HURL's existing long-term debt, was formalised in the national Capital between Sunil Kumar Goel, Executive Director (Finance), IRFC, and Poonam Jeswani, CFO, HURL. The signing took place in the presence of the Chairman and Managing Director of IRFC, Manoj Kumar Dubey, and the Chairman of HURL.

Speaking on the occasion, Manoj Kumar Dubey stated that the Navratna CPSE is actively expanding its footprint to support infrastructure sectors with strong railway linkages...