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News Jaiprakash Associates defaults on US$482m debt

Jaiprakash Associates defaults on US$482m debt

Written by Global Cement staff 10 May 2023
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India: Jaiprakash Associates has defaulted on loans worth US$482m, which were due for repayment on 30 April 2023. The producer has total borrowings of US$3.57bn, repayable by 2037. It informed the National Stock Exchange of India (NSE) that the outstanding debt is subject to on-going restructuring, but will reduce by US$2.21bn upon transfer of property belonging to Jaiprakash Associates to a shareholder-approved special purpose vehicle (SPV).

Published in Global Cement News
Tagged under
  • India
  • Jaiprakash Associates
  • debt
  • default
  • GCW607
  • corporate
  • Loan
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