The managing director of Sathavahana Ispat Limited (SIL) was relieved when his company’s expanded manufacturing facilities commenced operations on April 1, 2015, after a delay of more than a year. Though he had a reason to rejoice, the managing director also had concerns about SIL's rising borrowing costs and dwindling liquidity. Accordingly, he approached the Indian Women's Bank to replace the company's high-cost debt to the extent of ?3 billion and to raise a corporate loan of ?1 billion. Would the proposal be sanctioned? Or would it be rejected due to SIL's weak financials, subdued market conditions and the ongoing global economic slowdown?
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