Adds CFO’s comments, details of deal

MEXICO CITY, Oct 13 (Reuters)Mexican cement maker Cemex said in a statement on Tuesday that it has extended repayment dates on about $2.1 billion of credit and will prepay some $530 million in loans, as part of a so-called “green” financing deal.

Cemex also changed some $313 million of dollar-denominated credit to Mexican pesos and around $82 million to Euros in the deal, under which the company incorporated green metrics into approximately $3.2 billion of commitments.

Cemex said the transaction meant it had no important debt maturities through July 2023.

“We are pleased with this transaction, which allows us to improve our debt maturity profile and underscores Cemex’s commitment to sustainability as one of our key strategic pillars,” said chief financial officer Maher Al-Haffar.

The green metrics include reducing net CO2 emissions related to cement products and power consumption from green energy. Performance in respect to the metrics could result in adjustments of interest rate margins of up to 5 basis points, Cemex said.

(Reporting by Frank Jack Daniel; Writing by Anthony Esposito)

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Adds latest prices, analyst comments

JOHANNESBURG, Oct 12 (Reuters)South Africa’s rand firmed slightly on Monday, clinging to the previous week’s gains spurred by hopes for the conclusion a stimulus package in the United States.

At 1500 GMT the rand ZAR=D3 was 0.14% firmer at 16.4750 per dollar compared to an close of 16.4975 on Friday in New York.

The expectations of stimulus in the world’s largest economy have provided a welcome boost for the rand by weakening the dollar .DXY and boosting appetite for risk-sensitive currencies.

Traders, however, warned that the cheer was thinning. On Friday, President Donald Trump offered a $1.8 trillion coronavirus relief package in talks with House Speaker Nancy Pelosi – moving closer to Pelosi’s $2.2 trillion proposal.

A holiday in the United States kept volumes thin and traders cautious of any big bets.

Locally, anticipation ahead of Thursday’s address in parliament by President Cyril Ramaphosa, in which he has promised to outline the government’s economic recovery plan, has also kept trading on the cautious side.

Treasury is set to publish its medium term budget (MTBPS) in two weeks time.

“The rand continues to average around R16.50/$ this quarter, in line with our forecasts, and will be subject to volatility, with risks around the MTBPS, Moody’s, S&P and Fitch country reviews and global financial market sentiment,” said Annabel Bishop of Investec.

Bonds firmed, with the yield on the benchmark 2030 paper ZAR2030= down 6 basis points to 9.435%.

In the equities market, the Johannesburg All Shares index .JALSH closed 0.67% firmer at 55,552 points while the Top-40 index .JTOPI climbed 0.74% to 51,158 points.

Leading the gainers was troubled retailer Steinhoff SNHJ.J, which continued to rise after it said on Friday discussions about a $1

By Abhirup Roy and Saeed Azhar

MUMBAI/DUBAI, Oct 12 (Reuters)Indian entrepreneur BR Shetty has filed a complaint with federal investigative agencies in India seeking a probe into two former top executives of his companies and two Indian banks related to a multibillion dollar financial scandal engulfing his group.

Several companies linked to Shetty, including top United Arab Emirates hospital operator NMC Health PLC and payments firm Finablr PLC FINF.L, have come under severe financial strain this year after short-seller Muddy Waters questioned NMC’s financials.

At issue, Muddy Waters said, were questions about NMC’s asset purchase prices and capital expenditures, which it said were both inflated.

NMC and Finablr subsequently announced far higher debts than they had previously reported.

Shetty’s 55-page complaint, a copy of which was seen by Reuters, accuses the former chief executives of NMC and Finablr, along with their associates and bankers, of inflating the companies’ balance sheets, arranging “illegal” credit facilities and misappropriating funds since 2012.

It calls on India’s federal police, the Central Bureau of Investigation (CBI), and the Enforcement Directorate (ED) – India’s financial crime fighting agency – to investigate.

The complaint, with more than 100 pages of supporting documents, indicates it was also sent to India’s prime minister’s office, central bank and other investigative agencies.

A spokesman for the two former CEOs, brothers Prasanth and Promoth Manghat, rejected Shetty’s allegations, saying he had significant control over the running of NMC after stepping aside as CEO in 2017 and that he or his family remained on the boards of companies including Finablr.

“These unfounded allegations against Prasanth Manghat and Promoth Manghat are a clumsy attempt to distract attention away from the skills and real value added by them to the success of NMC, Finablr … and Shetty’s own role in what

Adds shares in paragraph 3, background and Carlyle/PEP response

Oct 12 (Reuters)Link Administration Holdings Ltd LNK.AX said on Monday it received a conditional A$2.76 billion ($2 billion) takeover offer from private equity firms Carlyle Group CG.O and Pacific Equity Partners, sending its shares up nearly 30%.

The non-binding offer of A$5.20 a share is at a 30.3% premium to the shareholder registry firm’s last closing price and has the support of Perpetual Ltd PPT.AX, which owns 9.7% of the company.

Link shares jumped as much as 27.8% to A$5.1, slightly under the private equity duo’s offer, their highest since the end of February.

Pacific Equity Partners previously owned Link before it floated on the Australian stock exchange at A$6.37 a share in 2015.

Link, which also provides services to fund managers and trading firms, has lost nearly a third of its value since the start of the year and swung to a full-year loss in August, as the COVID-19 pandemic wrecked havoc across markets.

The company said it would consider the offer but asked shareholders not to take any action yet.

An external communications firm representing Carlyle and Pacific Equity Partners declined to comment.

Macquarie Capital and UBS have been appointed by Link as its financial advisers.

($1 = 1.3833 Australian dollars)

(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Jacqueline Wong and Stephen Coates)

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By Nidhi Verma and Manoj Kumar

NEW DELHI, Oct 9 (Reuters)A recent cut in Indian gas prices will wipe about $1 billion off Oil and Natural Gas Corp.’s (ONGC) ONGC.NS revenue from its gas business in the current fiscal year ending in March, the company’s finance chief said on Friday.

India has slashed prices of gas produced from old blocks – handed to explorers without bidding – by about a quarter to a multi-year low of $1.79 per million metric British thermal units (mmBtu).

ONGC produces over 95% of its 70 million standard cubic meters per day (mmscmd) of gas output through old blocks.

Finance chief Subhash Kumar said production costs averaged about $3.60-3.70 per mmBtu, which means it is making a loss of $2 per mmBtu since the gas price cut, losing about 100 billion rupees of revenue.

“But since we don’t have to pay taxes on this loss, eventually it comes to 60-70 billion rupees ($821 million-$958 million). That is the net loss in the gas business,” Kumar told a news conference after a shareholders’ meeting.

India needs to make gas prices ‘remunerative’ for producers to boost local output as the country wants to raise the share of the cleaner fuel in its energy mix to 15% by 2030, from 6.2% currently, ONGC’s Chairman Shashi Shankar told the news briefing.

He said the government has set up a panel to look into modifying the current pricing formula, which is based on a weighted average of Henry Hub, Alberta Hub, National Balancing Point and Russian gas.

“Talk is going on of giving some kind of floor price and change in (the) formula as well… The formula could be revised and JKM (Japan Korea Marker) could be one of the markets linked with,” he said.

However, he