Debts

Biocon Biologics refinances $1.1 bn debt through bonds, syndicated facility

Refinancing will improve liquidity and help in reinvestment, says company

Godrej Industries plans to raise up to Rs 3,000 cr, seeks shareholders' nod

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

Jaiprakash Associates plans to restructure bonds worth $120 million

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

India yet to see significant improvement in debt affordability: Moody's

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

Italy's debt risk premium hits 21-month low as traders eye rate cuts

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

Three bidders in race to acquire RInfra road projects for Rs 6,000 crore

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

Vedanta Resources in talks with PE funds for $1 billion debt repayment

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

Why did this Chinese city name and shame debtors in a newspaper ad?

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

China real estate industry recovering from debt crackdown: Officials

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

Adani Group aims to tackle debt deadlines with cash, private notes

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

Invest in long-term debt? Dynamic bond fund managers on the fence

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

'Financial creditors forego Rs 790 cr under insolvency resolution process'

The report also said the trend in the loan recovery rate is also going down

China's property debt crisis enters new phase as bond havens crumble

China's property debt crisis is entering a new phase as even developers that had long been considered safer rapidly tumble into distress

HCC's shares jump nearly 20% on completing debt resolution plan

Co to hive off part of debt, receivables to a SPV; to hold 49% stake in SPV

Tatas all set to monetise road, ropeway projects; to raise Rs 6K crore

Tata Realty to raise Rs 6,000 cr as fresh debt

Shapoorji Pallonji & Co to reduce debt by Rs 4,000 crore in FY23

Its consolidated external debt reduced by about Rs 13,500 crore during FY22 to Rs 23,475 crore as on March 31

Defaulting firm's debt includes both principal and interest: NCLAT

Case related to a company that challenged insolvency proceeding against it for delaying payments to borrower

Argentina's $45 bn debt deal with IMF gets final legislative approval

Argentina's Senate gave final legislative approval Thursday for President Alberto Fernndez's administration to refinance government's $45 bn debt with International Monetary Fund and avoid a default

Reliance Naval and Engineering lenders ask bidders to sweeten offers

The lenders are planning to close the deal within the next two weeks by voting on both revised proposals

Evergrande's $1.7 bn Hong Kong headquarters sale flops as buyer withdraws

The collapse of the talks for the landmark building's sale is another setback for cash-strapped Evergrande