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Lenders to Begin Looking at Restructuring Essar Steel Ltd. Debt
07/05/2016 - India’s indebted Essar Steel Ltd. has failed to find a taker for a majority stake in the business, and now its lenders are moving to begin debt restructuring talks, reports Indian business publication Mint.
“There has been a lot of discussion and waiting in this case. Now, the consortium has decided that it is best to restructure the debt and move on. As such, Essar Steel is a non-performing account with a large number of banks in the consortium,” a banking source who is involved in the matter told the publication.
Mint has the full story here.
Mint has the full story here.
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