Amid takeover offer, McLeod Russel pins hopes on debt recast plan

CMD Khaitan says banks have been very supportive and have come to a conclusion on what debt restructuring resolution should be

The McLeod Russel India management is expecting banks to support its debt restructuring plan, which is awaiting clearances from credit rating agencies.

McLeod Russel India Chairman and Managing Director Aditya Khaitan informed shareholders at the company’s annual general meeting (AGM) that the banks have been very supportive and have come to a conclusion in terms of what the debt restructuring resolution should be.

“It is now awaiting the clearances of the rating agencies and I am sure that once we get that, the company will be ready to move on its debt restructuring programme and the banks will be fully supporting us