Future Retail Completes Onshore Restructuring; S&P Downgrades Issuer Level Rating
Future Retail announced the implementation of a one-time restructuring plan by its onshore lenders on debt of ~INR 102bn ($1.4bn). The restructuring was approved under the resolution framework for COVID-related stress provided by the RBI and involves extending their...
Future Retail’s Lenders to Withdraw Easing Measures if Reliance Deal Goes Through
Debt laden Future Retail’s lenders had last week given their consent to a debt restructuring plan through which the repayment to lenders would be deferred by 2 years. The plan was set under the guidance of India’s central bank RBI’s KV Kamath...
Future Retail’s Board Approves Bank Debt Restructuring
Future Retail’s board has agreed to a debt resolution plan on restructuring its secured bank debt and three rupee bonds as per a filing with the BSE. “The debt burden has become disproportionate relative to the cashflow generated by the company owing to the multiple...
