Page 14 - Debt

Corporate debt quality remains steady in June after improving since Feb

According to CARE Ratings, upgrades in rated debt can be attributed to higher demand with the economy opening up after lockdowns, releasing pent-up demand, and lower cost of capital

Airtel Africa clears dues worth $450 mn, purchases notes via tender offer

The company had issued a tender offer to purchase USD 300 million worth of its 5.35 per cent guaranteed senior notes of $1 billion due 2024.

China's once profitable railways records $900bn debt over push for growth

What was once China's profitable high-speed railways is now heading towards a trillion-dollar disaster after reports of debt nearing a whopping $900 billion

Why a historic cascade of defaults is coming for developing countries

Sri Lanka was the first nation to stop paying its foreign bondholders this year, burdened by unwieldy food and fuel costs that stoked protests and political chaos

J&K Bank gets board approval to raise up to Rs 2,000 crore in FY23

State-owned Jammu and Kashmir Bank (J&K Bank) on Tuesday said it will raise up to Rs 2,000 crore, through a mix of debt and equity, in the current fiscal year 2022-23. The board of directors of the bank, in its meeting held on June 28, approved the capital raise plan, J&K Bank said in a regulatory filing. The board approved to raise equity capital up to Rs 500 crore in one or more tranches by way of rights issue/ preferential allotment, private placement/ qualified institutional placement or a follow on public offer or any other approved route, it said. It has also approved to raise up to Rs 1,500 crore capital by way of issuance of Basel III compliant tier II bonds in the nature of non-convertible debentures on a private placement basis, it added. Stock of J&K Bank closed at Rs 26 apiece on BSE, up by 1.56 per cent from previous close.

Russia defaults on foreign-currency sovereign debt for 1st time since 1918

Russia defaulted on its foreign-currency sovereign debt for the first time in a century, the culmination of ever-tougher Western sanctions that shut down payment routes to overseas creditors

How G7 could help the debt-distressed

This small and wealthy group with its outsize power is uniquely positioned to help low-income countries manage deteriorating macroeconomic conditions

Bharti Airtel Africa issues tender offer to buy back $ 300 mn senior notes

The company's tender offer to purchase $ 300 million worth of its 5.35% guaranteed senior notes of $ 1 billion due 2024 has commenced from June 21 and will expire on July 19, 2022, Bharti Airtel said

Jain Irrigation to merge international biz with Temasek-backed Rivulis

The cash proceeds will be used to pay off Rs 2,700 crore of overseas debt

Fashion startup Zilingo's board said to approve debt repayment to creditors

The move puts the embattled fashion startup in a precarious financial position, given its money-losing operations and limited access to fresh capital

Mere act of invoking pledged shares does not discharge debt, rules SC

Top court says debt is not discharged till there has been an actual sale of the pledged items

Experts warn against China's debt-trap diplomacy, cite Sri Lanka's example

Sri Lankan leaders have promoted large-scale investments from China which has boosted Beijing's debt-trap diplomacy

Student debt can harm your cardiovascular health in early middle age

According to a new study, adults who do not repay college debt or take on new educational debt between young adulthood and early middle age are at increased risk of cardiovascular disease.

Sri Lanka's debt restructuring to impact bilateral loans: Chinese envoy

Debt-ridden Sri Lanka is grappling with an unprecedented economic turmoil since its independence from Britain in 1948

China must be treated as equal Sri Lanka creditor: India to IMF, World Bank

"All creditors must be treated equally and with transparency," Sitharaman said in an interview in Washington Friday. "I've emphasized that point in general and in the context of Sri Lanka."

Future Enterprises defaults on Rs 1.22 cr interest payment for NCDs

The latest default is on the interest of securities issued for a sum of Rs 25 crore.

Debt quality index gains nearly three point to close FY22 at 92.24

The better show was largely driven by enhancements in rated debt of higher-rated entities and reduction in debt of a large defaulting NBFC on recast

Lanka oppn threatens no-confidence motion, industry warns of 'precipice'

President Gotabaya Rajapaksa is running his administration with only a handful of ministers after his entire cabinet resigned this week

Global sovereign debt to rise almost 10% to new high in 2022: Report

Governments across the world have ramped up borrowing since the Covid-19 pandemic erupted two years ago, as they tried to shield their economies from the fallout.

BS Number Wise: An emerging trend in EPFO's debt investments

Every investment category but one has seen a drop in its share: it's a move that is not without some risk