Page 8 - Debt

Vedanta Resources plans to meet investors as it faces $2 billion debt bill

The mining company has already started an exercise to identify investors in its dollar bonds that mature next January and August, as well as those due in March 2025

G20 Finance Deputies' meet begins: Crypto norms, debt distress in focus

India's G20 presidency has also put together a summary of various works being done by different institutions towards crypto assets

Vedanta seeks to identify its dollar bondholders as $2 billion debt looms

Vedanta has engaged a corporate advisory firm Morrow Sodali to identify owners of notes that mature in January 2024, August 2024 and March 2025, according to a notice sent last week

Embassy Office Parks REIT raises Rs 500 cr via debentures to refinance debt

Embassy Office Parks REIT on Monday said it has raised Rs 500 crore through issue of debentures to refinance its existing debt. In a regulatory filing, the company informed that the Debenture Committee of the Board of Directors of the manager has approved the allotment of 50,000 non-convertible debentures (NCDs) with a face value of Rs 1 lakh on a private placement basis. On August 23, the company announced plans to raise Rs 1,000 crore through issue of NCDs in two tranches. The tenure of the NCDs is 60 months from the deemed date of allotment, with a coupon rate of 8.10 per cent per annum payable on a quarterly basis to the debenture holders. These NCDs are proposed to be listed on the Wholesale Debt Market Segment of the BSE Limited. Embassy Office Parks REIT has reported a 9 per cent increase in net operating income to Rs 737.6 crore for the first quarter of this fiscal year and declared a distribution of Rs 510 crore to the unitholders. Net operating income (NOI) stood at Rs 6

Vodafone Idea plans to clear about Rs 2,400 crore dues by September

Debt-ridden telecom operator Vodafone Idea plans to clear about Rs 2,400 crore of dues to the government by September, sources privy to the development said. The company recently cleared pending dues of licence fees and spectrum usage charges of about Rs 450 crore for the March quarter of 2022-23, a source told PTI. "Vodafone Idea will clear dues for the June 2023 quarter and spectrum instalment with applicable interest by September, " the source said. Vodafone Idea had to pay a licence fee of around Rs 770 crore by July and Rs 1,680 crore as the first instalment for the spectrum it purchased in auctions that were held last year. While the company has sought 30 days to clear the spectrum payment, the company is also gearing up to clear the licence fee payment by September. "Due on late payment of spectrum instalment will attract 15 per cent interest rate on annual basis. The company will have to pay around Rs 1,700 crore for spectrum instalment and around Rs 710 crore for licence

Godrej Properties' Q1 net debt up 45% to Rs 5,298 cr from March-end

Godrej Properties' net debt rose 45 per cent during April-June period of this fiscal to Rs 5,298 crore from the previous quarter on aggressive land purchase across major cities. According to an investor presentation, net debt of Godrej Properties -- the real estate arm of business conglomerate Godrej Group -- stood at Rs 5,298 crore as on June 30, 2023 as against Rs 3,649 crore at March-end. Debt-equity ratio stands at 0.56. Since April last year, Godrej Properties has been aggressive in new business development under which the company is purchasing land outright and also entering into joint development agreements (JDAs) wth land owners to create a pipeline for future development. It focuses on Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune and Bengaluru markets. Enthused by strong housing demand, the company acquired 18 land parcels last fiscal year for development of new projects with an estimated sales potential of Rs 32,000 crore. It purchased four new land parcels with an .

Rank loans, save money, seek advice: Strategies to get out of debt

Recovery agents cannot harass debtors and have to take consent before visiting them

G20: FM calls for global efforts to restructure poor countries' debt

Finance minister Nirmala Sitharaman on Friday called for concerted global efforts led by rich nations to help indebted countries deleverage at a time when multilaterism is the most potent challenge. Addressing online a G20 session, organised by the finance ministry and the Reserve Bank here, ahead of the grouping's summit next month in New Delhi, she said multilaterism faces the biggest challenge in recent years. "We haven't seen such enormous challenges in recent years at all". She added that New Delhi has ensured that so far the geopolitical differences do not supersede international cooperation which is the core mandate of the G20 grouping and the summit. The Indian presidency of the G20 has placed great importance on the management of global debt vulnerabilities that many nations are facing today. It's time the international community collaborate and find stronger ways to coordinate in debt restructuring efforts for low-income and vulnerable middle-income countries facing debt .

Tata Capital plans to raise Rs 2,800 cr via debt in FY24: Official

"If credit is expected to grow at around 15%, we will try to grow our AUM (assets under management) by more than 25%. Our liabilities will have to match that"

Revolutionizing Debt Recovery in India: Mobicule Technologies' Tech-Driven Approach

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Longer-duration debt funds: Tactical bets are for high risk takers

Long-term investors who want near-certain returns may opt for a target maturity fund that invest in gilts

Airtel emitting strong signals; improving margins along with debt-reduction

By the calculation, EBITDA minus Capex, operating cash flow was at $1.1 billion (up 26 per cent QoQ) while India Operating cash flow increased to $585 million (up 10 per cent QoQ)

Adani group-company Ambuja Cement to buy Sanghi Cement for Rs 6,000 cr

The Adani group will invest Rs 4,500 cr in acquiring the promoters' stake and take over the company's debt of around 1,500 cr

Centre's debt stands at Rs 155.6 trn in March 2023, 57.1% of GDP

The central government's debt stood at Rs 155.6 lakh crore or 57.1 per cent of the GDP at the end of March 2023, Parliament was informed on Tuesday. "The Central Government's debt was Rs 155.6 lakh crore as on March 31, 2023. It has reduced from 61.5 per cent of GDP in 2020-21 to 57.1 per cent of GDP in FY 2022-23," Minister of State for Finance Pankaj Chaudhary said in a written reply to the Rajya Sabha. The debt of state governments at the end of 2022-23 is estimated to be about 28 per cent of GDP. Replying to another question, Chaudhary said the Gross Fixed Capital Formation (GFCF) in the Indian economy has increased from Rs. 45.41 lakh crore (constant 2011-12 prices) in 2018-19 to Rs 54.35 lakh crore in 2022-23 (Provisional Estimates). "The government is implementing the 'Scheme for Special Assistance to States for Capital Expenditure' (2020-21 & 2021-22) and 'Scheme for Special Assistance to States for Capital Investment' (2022-23 & 2023-24)," he said. The government ..

GreenCell Mobility receives Rs 3,000 crore in debt funding from REC

The fund will be used to acquire 3,000 e-buses and support energy storage and charging infrastructure

Confident of meeting debt maturities in FY24: Vedanta CFO Shrivastava

The company is committed to reducing debt as its "high-quality" assets continue to generate a healthy cash flow, Sonal Shrivastava said in a statement. "We are prudent in raising capital"

Amid Pak's economic crisis, Punjab govt to spend Rs 2.3 bn on new vehicles

Meanwhile, Pakistan's external debt servicing obligations are $ 2.44 billion for the current month of July 2023, including $ 2.07 billion in non-guaranteed debt owed to China

G20 to discuss int'l debt architecture, more loans to developing nations

Countries like Zambia and Ghana have been waiting for big creditors to make progress in providing debt relief under the so called "Common Framework", which is led by the G20

Structured flexible capital: Beyond traditional debt and equity

High-yield debt markets have limited depth in India and founders don't want to be seen taking on expensive debt, which is perceived as a sign of stress

States' debt cost continues to rise to nearly 7.5% to Rs 16,200 cr

States continue to pay higher interest rates to investors for their debt, with the latest weighted average cost rising to 7.46 per cent at Tuesday's auctions wherein nine states raised Rs 16,200 crore. The weighted average cut-off/yield on state government securities (SGS) rose by 5 bps to 7.46 per cent in the auction held on Tuesday, from 7.41 per cent in the last weekly auction, despite a stable weighted average tenor of 16 years and the money raised was in line with the amount indicated for this week in the auction calendar, according to a note by Aditi Nayar, the chief economist at Icra Ratings. Accordingly, the spread between the 10-year SGS and 10-year government of India security yield eased mildly to 32 bps from 34 bps last week.