Debts

Curtail new discretionary spending until existing EMIs are cleared; use secured loans to clear high-cost debts

Perpetual debt issued in foreign currency or in Indian rupees overseas will be eligible for inclusion in banks' additional tier-1 capital of up to 1.5 per cent of risk weighted assets

Vodafone Idea has petitioned the Supreme Court to quash fresh AGR dues raised by DoT, arguing the new demands exceed the court's ruling and threaten its financial survival

Raveendran announces plans to seek $2.5 billion in damages

World Bank wants to broaden the depth and detail of what sovereign countries disclose regarding new loans, as more of them enter complex, off-budget borrowing deals due to global market turmoil

Byju's co-founder Riju Ravindran has approached NCLT, alleging GLAS Trust falsely claimed creditor status and seeking its removal from the Committee of Creditors in the ongoing insolvency case

Bankers have contacted a small group of investors to assess their interest in buying chunks of at least $250 million at a discounted price in the range of 90 to 95 cents on the dollar

While Japan is by no means alone in confronting a debt problem, salaries are the lowest of Group-of-Seven countries, and the central bank is raising borrowing costs while its peers cut them

Vedanta Resources Limited (VRL), the parent firm of Mumbai-based mining conglomerate Vedanta Ltd, has received a rating upgrade from S&P Global Ratings. The agency upgraded VRL's corporate family rating from 'B-' to 'B'. With this, VRL's rating by S&P has gone up by five notches from 'CC' in December last year. "We raised our issuer credit rating on Vedanta Resources Ltd. to 'B' from 'B-' and raised our issue ratings on the company's guaranteed bonds to 'B-' from 'CCC+'," the rating agency said. S&P said in its report that the upgrade comes after VRL obtained the minimum acceptances needed to close its consent solicitation exercise for 2028 bonds. "The stable outlook reflects our expectation that refinancing risks will be more manageable after the transaction given a newfound funding flexibility and improved capital market access," the agency said in its report. "The stable outlook also reflects the company's sound underlying operations, which should support internal cash .

Refinancing will improve liquidity and help in reinvestment, says company

Godrej Industries Ltd plans to raise up to Rs 3,000 crore through issuance of debt instruments and will seek approval from shareholders through a special resolution, according to a regulatory filing. The board of directors, at its meeting held on August 7, 2024, had proposed to seek an approval from the members to raise or borrow funds by way of issuance of unsecured non-convertible debentures (NCDs), bonds or other instruments, listed or unlisted, on private placement basis for an amount not exceeding Rs 3,000 crore, Godrej Industries said in a postal ballot notice shared on the BSE. The fund is proposed to be raised within one year from the date of passing of the special resolution at an interest rate that will be determined by the prevailing money market conditions at the time of the borrowing, it added. The issue of these securities like NCDs, bonds or other instruments work as a cost-effective source of borrowing, it added. On the purpose of the fund raise, the company said it

Crisis-hit Jaiprakash Associates, which is into cement and construction businesses, on Saturday said around 92 per cent of bondholders have given consent for restructuring of foreign currency convertible bonds (FCCBs) worth USD 120 million, which were issued by the company and due for payments in 2020 and 2021. In February, the debt-ridden company had announced plans to restructure these bonds. On February 27, Jaiprakash Associates informed that the company has executed a non-binding term sheet and related accession agreements with an aggregate of about 70 per cent of the holders of (i) the USD 38,640,000 FCCBs due September 2021 (Series A Bonds); and (ii) the USD 81,696,000 amortising FCCBs due September 2020 (Series B Bonds). The agreements contain the primary terms of the proposed restructuring of such bonds. In a regulatory filing on Saturday, the company apprised that more bondholders have accorded their consent to the bond restructuring by signing an accession agreement with

Moody's in August had affirmed a 'Baa3' rating on India with a stable outlook. A higher rating implies lower economic risk, allowing a country to borrow at cheaper rates

Italian bonds have benefited from investors' hopes that interest rates will fall sharply this year, reducing pressure on the euro zone's more indebted countries

The sale of the entire road portfolio of Reliance Infrastructure is anticipated by the end of this month

The mining conglomerate is simultaneously in discussions with bondholders to modify repayment timelines on a portion of the $3.2 billion bonds

Wuhan's finance bureau says more than 250 entities owe the local government millions

China's vast real estate industry is recovering from a slump triggered by tighter debt controls, a deputy central bank governor said Friday, after a wave of defaults by developers rattled global financial markets. Pan Gongsheng mentioned Evergrande Group, the global industry's most heavily indebted developer, but gave no update on its government-supervised efforts to restructure 2.1 trillion yuan (USD 305 billion) in debt to banks and bondholders. Market confidence is recovering. Transaction activity in the real estate market has increased," said Pan at a news conference ahead of the meeting of China's legislature. The financing environment, especially for high-quality enterprises, has improved significantly. Pan gave no indication Beijing planned significant changes in its debt controls, known as three red lines. China's economic growth slid in mid-2021 after regulators who worry debt levels are dangerously high blocked Evergrande and other heavily indebted developers from borrowi

The management said on the call it was seeking to cut the group's net debt to below three times Ebitda (earnings before interest, taxes, depreciation, and amortization) next year

In November, nearly half the dynamic bond fund (DBF) schemes raised the allocation to medium-to-longer-duration papers