Bank of America Dives Deep Into India’s Bad Debt

Spread the love


The group, which includes local bad debt buyer Assets Care & Reconstruction Enterprise, bought distressed loans of Jayaswal Neco Industries Ltd., with a face value of 47 billion rupees, said the people, asking not to be identified as they aren’t authorized to speak publicly. Lenders led by State Bank of India sold the debt, taking a haircut of 30 percent on the all-cash deal, the people said.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *