1. Tata Power Co., India's second-biggest utility, will borrow $950 million to fund its purchase of stakes in two Indonesian coal mines to secure supplies.
2. It has hired Calyon to arrange a $600 million loan secured by the coal mines and a $350 million loan guaranteed by Tata Power. Calyon is marketing the loans to other banks.
[Coal is the world's fastest-growing energy source as rising oil prices prompt users to switch fuels.
Indian power companies must look overseas to secure coal supply, as local supply is largely government-controlled.]
To sell more you need to ensure that you can buy more.
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