Page 15 - Debt

Refinancing debt more challenging for Vedanta Resources in tight market

While current capital market conditions have reduced Vedanta Resources' funding options, its strong underlying ops remain supportive of the company's ability to meet its immediate debt obligations

Banks to start debt recovery proceedings against Future Retail: Report

Indian lenders are set to initiate debt recovery proceedings against Future Retail this week to safeguard their interests after rival Reliance unexpectedly took over some of the retailer's stores

Macrotech arm Lodha prepays $170 mn debt out of total $225 million

Lodha Developers International Ltd, Mauritius has prepaid $170 million (approx. Rs 1,298 crore) of debt after recording better sales performances in its two projects in London.

Non-financial debt jumps 11.9% to Rs 371 trillion in Sept quarter: Report

However, this is lower than the previous fiscal, when it had touched 180.2 per cent of GDP after a three per cent contraction in the nominal GDP during FY21

IL&FS resolves Rs 324-cr debt by selling stake in Warora Chandrapur Highway

Until recently, the board of debt-laden IL&FS had resolved Rs 52,000 crore worth of the debt of the group

Future Retail 'not in position' to make $471 mn payment as deadline nears

Future Retail Ltd. isn't in a position to make a payment on 35 billion rupees ($471 million) of past-due debt before the grace period expires

German yields cross zero threshold as bond selloff intensifies

The rate on 10-year bunds rose as much as four basis points to 0.02%, crossing into positive territory for the first time since May 2019.

Sri Lanka's economy on the edge as debt burden mounts due to Covid

Sri Lanka has piled up $11.8 billion worth of debt through sovereign bonds (ISB) which makes up the largest part - or 36.4% - of its external debt

Cutting corporate debt

Banks will struggle to grow in the coming quarters

Biden signs legislation raising US debt limit, averts potential default

US President Joe Biden has signed into law a legislation that provides for the authority to increase the federal government's debt limit by $2.5 trillion, averting a looming debt default.

Air India board to meet on Monday to finalise prepayment of Rs 12k-cr debt

Loans were raised by the airline as NCDs at 9.05-10.05% interest rate, will be prepaid as part of govt's sale of airline to Tatas

Debt-laden IL&FS says it has completed stake sale in Prime Terminals FZC

Debt-laden Infrastructure Leasing and Financial Services (IL&FS) on Wednesday said it has completed the sale of its 71.84 per cent stake in IL&FS Prime Terminals FZC to VTTI Terminal I BV. The transaction has resolved the group's outstanding debt to the tune of Rs 757.79 crore, a release said. IL&FS' stake in IL&FS Prime Terminals FZC (IPTF), a state-of-the art energy storage terminal situated in the UAE's Fujairah, was held through IL&FS Maritime Infrastructure Company (IMICL). VTTI has acquired the stake from IMICL and other shareholders, the release said. VTTI will now own 90 per cent of the terminal, while the other 10 per cent will remain with the Fujairah government, the group said. The sale has also enabled release of a corporate guarantee of USD 110 million issued by IMICL for IPTF, it said. Recently, the IL&FS board had announced that the group has resolved over Rs 52,000 crore debt while maintaining its overall debt resolution estimate at Rs 61,000 ...

IL&FS group expects to resolve extra Rs 4,800 crore debt by March 22

If this happens, it would have resolved amounts close to Rs 57,000 by then; lenders' write-off pegged 38-39%

UV Asset Reconstruction Company submits bid to buy IFIN's bad loans

Sale to help IL&FS clean its financial services arm book

Poor countries' debt rose 12% to record $860 bn in 2020: World Bank

The World Bank has called for urgent efforts to reduce debt levels

Tata Sons wins bid: Air India may see turnaround as debt eases by 75%

Air India reported an operating profit of Rs 1,787 crore in FY20 on a consolidated basis but reported a net loss of Rs 7427 crore due to interest and depreciation costs

White House warns of a global financial crisis on debt default: Report

The potential for global recession could be worse than the 2008 GFC : Report

Easing burden: Amount borrowed by non-financial firms fell 5.6% in FY21

The numbers also suggest a big jump in India Inc's cash pile or cash reserves

J&K Bank gets shareholders' nod to raise up to Rs 2,000 cr via equity, debt

Jammu and Kashmir Bank on Friday said it has received shareholders' nod to raise up to Rs 2,000 crore through equity and debt to fund its business. The shareholders at the annual general meeting on Friday approved the plan to raise equity and debt capital of up to Rs 1,000 crore each. They approved raising of equity capital of up to Rs 1,000 crore in one or more tranches by way of rights issue/preferential allotment/private placement or qualified institutional placement (QIP) or any other approved mode, the bank said in a regulatory filing. Also, shareholders approved raising up to Rs 1,000 crore by issuing Basel III compliant tier-II bonds in the nature of non-convertible debentures on a private placement basis. Shareholders also cleared the appointment of Nitishwar Kumar and Mohmad Ishaq Wani as directors.

India's external debt at $571.3 bn at June-end, up $1.6 bn from March: RBI

India's external debt stood at $571.3 billion at end-June, recording an increase of $1.6 billion over its level at the end of March 2021, the RBI said on Thursday