MUMBAI, DEC 23: Financial institutions (FIs) are meeting tomorrow to finalise their decision on extending a financial restructuring package to the Essar group.This would include partial refinancing of the $ 240 million floating rate notes (FRN) liabilities of Essar Steel as well as overall package for the group, FI sources said adding they were waiting for the response of the FRN holders to Essar Steel's triple option.In their last meeting, FIs had come to the conclusion that the problems of any Essar company could not be looked at in isolation and that the group had to be viewed in its entirety. The FIs had preferred to go further after reviewing their total outstanding exposure to the group.
