Balkrishna Industries Plans to Raise $175 Million in Six-Year Bank Loans

Balkrishna Industries Ltd., a Mumbai-based automobile tiremaker, approached banks for a $175 million six-year loan, according to two people familiar with the matter.

Loan terms including pricing haven’t been decided, the two people said, asking not to be identified as details are private.

Balkrishna, rated AA-, the fourth-highest investment-grade, by a local risk assessor, has one $22 million bond maturing this year, according to data compiled by Bloomberg.

To contact the reporter on this story: Katrina Nicholas in Singapore at knicholas2@bloomberg.net

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