India’s Oriental Hotels board OKs up to Rs. 1 billion long-term debt

By Sarah Lizee

Olympia, Wash., May 6 – Oriental Hotels Ltd. informed the Bombay Stock Exchange that its board of directors met on Wednesday and approved a proposal to raise up to Rs. 1 billion of additional long-term funds by way of nonconvertible debentures, term loans or any other debt instruments in one or more tranches.

Oriental Hotels is a Chennai, India-based holding company engaged in the business of hotelkeeping, including accommodation, restaurants and catering services.

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