Debt-ridden telecom operator Vodafone Thought has paid holders of non-convertible debentures that matured early this week, in keeping with a regulatory submitting. The corporate made the fee on December 13, the date of maturity of the bonds, and averted any monetary default.
“..the corporate has made well timed fee of principal quantity along with curiosity in respect of…debentures issued by the corporate,” an organization letter to the Nationwide Inventory Trade dated December 13 stated.
Within the particulars, the corporate talked about that the fee has been made for 7.57 per cent unsecured redeemable non-convertible debentures for which the fee was due on December 13. Based on sources, the corporate has paid round ₹1,600 crore to the lenders which incorporates principal quantity of ₹1,500 crore.
Vodafone Thought chief monetary officer Akhsay Moondra throughout an incomes name of the corporate for the second quarter had stated that the corporate is in discussions with banks and traders for elevating each debt and fairness which incorporates to make association of funding to have the ability to meet fast maturities of debt that are arising within the remaining quarter of the monetary 12 months.
The corporate’s complete gross debt, excluding lease liabilities and together with curiosity accrued however not due, as of September 30, 2021 stood at ₹1,94,780 crore.
The quantity contains deferred spectrum fee obligations of ₹1,08,610 crore, AGR legal responsibility of ₹63,400 crore which are because of the authorities and debt from banks and monetary establishments of ₹22,770 crore.
This story has been printed from a wire company feed with out modifications to the textual content. Solely the headline has been modified.
Supply: Live Mint