|
|
|
|
RInfra lenders sign pact for debt resolution
|
|
|
|
| Top Stories |
 |
|
|
|
SME Times News Bureau | 11 Jul, 2019
The Reliance Infrastructure Ltd (RInfra) on Thursday said that its 16
lenders have signed the Inter-Creditor Agreement (ICA) for resolution of
the company's debt.
The company in a regulatory filing also said that it aims to be a "zero debt" firm by the year 2020.
"As
per the RBI circular of June 7, 100 per cent of its lenders have signed
the ICA for the resolution of Reliance Infrastructure's debt," the
company said.
Reliance Infrastructure has now achieved standstill
for 180 days as per the agreement. According to Reserve Bank of India's
(RBI) circular, the resolution plan of Reliance Infrastructure is to be
implemented within 180 days.
"Reliance Infrastructure is
confident of implementing its resolution plan well before the 180-days
deadline based on advanced progress of its various asset monentisation
initiatives," it said.
As per the RBI framework, resolution plan
has to be agreed to by 75 per cent of the lenders by value of debt and
60 per cent by number of lenders.
Reliance Infrastructure has
already announced the sale of Delhi-Agra Toll Road for enterprise value
of Rs 3,600 crore. With this single transaction, debt of Reliance
Infrastructure will reduce by over 25 per cent to just over Rs 4,000
crore.
The company also plans to monetise its 7 lakh square feet Reliance Center in Santacruz by way of long-term lease.
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
| Japanese
Yen |
58.85 |
56.85 |
| As on 05 Jun, 2020 |
|
|
| Daily Poll |
 |
 |
| COVID-19 has directly affected your business |
|
|
|
|
|
| Commented Stories |
|
|
|
|
|
|
| |
|
