The International Finance Corporation (IFC), a member of the World Bank Group, is considering a financing package of up to $69 million for Himatsingka Seide Limited (HSL), a home textile manufacturing company in India, according to a disclosure.
The proposed loan package will be used to refinance HSL’s long-term debt of approximately $51.6 million, capital expenditure of approximately $5.2 million towards debottlenecking of HSL’s terry towel capacity, and approximately $12.2 million towards corporate decarbonisation exercise.