INSUBCONTINENT EXCLUSIVE:
resolution plan that includes relaxation of original loan terms
In a filing to BSE, the NBFC said it has been in constant engagement with lenders to formulate and finalise the resolution plan and expects
to submit the resolution plan for consideration by the lenders shortly.
The stock fell 2.99 per cent to hit a low of Rs 53.5 on BSE
The embattled home financier has made lenders a number of offers, including the request that banks convert a small portion of a 10-year
long-term debt into fresh equity in the company, sources told ET.
DHFL has also sought new credit lines worth about Rs 1,200-1,500 crore
every month, and a moratorium of more than six months on debt repayment
DHFL may pay only the due interest on outstanding bonds during the proposed moratorium, ET reported on July 22.
In the past nine months,
DHFL has securitised home loan assets worth over Rs 40,000 crore
Bondholders have Rs 45,000 crore of exposure to Mumbai-based DHFL, while high-street lenders have loaned the home financier another Rs