Beena Parmar
Moneycontrol News
Bankers will be meeting today to decide on a restructuring plan for debt worth over Rs 42,000 crore owed by Reliance Communications (RCom). After four rating firms recently downgraded the company’s debt, its bad loans are in danger of turning into non-performing assets.
Banks are likely to discuss how RCom will use the proceeds from its previous tower sale. A banker familiar with the matter said, “The meeting is at around 11. The discussion is likely around the question of how they will resolve their liquidity mismatches and how much will be deployed towards debt repayments to banks.”
The meeting, which was originally scheduled to happen sometime next week, has been advanced given the urgenc…
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