MAGNUM : SIGNS RS 60 CR TERM LOAN AGREEMENT WITH TATA CAPITAL

• Term loan agreement with Tata Capital (TCL) for ₹60 Cr; disbursement subject to necessary approvals and pari passu letter of charge on hotel assets from TFCI • Use of funds: up to ₹20 Cr unsecured loan repayment, ₹25 Cr hotel upgradation capex, ₹10 Cr partial TFCI loan repayment, ₹5 Cr general corporate purpose • Interest at LTPLR plus 3.25%, i.e. 12.00% p.a. floating (LTPLR 8.75% p.a.); tenure 135 months with monthly interest and equal quarterly principal repayments • Tranche I up to ₹10 Cr on receipt of TFCI pari passu letter; Tranche II up to ₹25 Cr capex plus ₹5 Cr GCP post security perfection • Rate to reduce by 75 bps post demerger of hotel division from paper division, subject to satisfactory conduct and security perfection • Secured by first pari passu charge on hotel division movable fixed and current assets, mortgage of Sahibabad property and personal guarantees of promoters

Magnum Ventures Limited

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