Lenders of GTL Infrastructure (GTL Infra) are weighing options to cut their exposure to the telecom tower major by selling loans to asset reconstruction companies (ARCs).
“In view of the recent sector developments, options to right size the debt either through an ARC debt sale process initiated by lenders or in accordance with the revised RBI guidelines dated February 12, 2018, are being envisaged,” GTL Infra said in an exchange notification.
A consortium of banks led by Union Bank of India had an exposure of around ₹8,000 crore to the company which was halved to about ₹4,000 crore through a debt-restructuring exercise.
The company has posted a net loss of ₹1,845.89 crore for the fourth quarter ended March 31, 2018, compared with a loss of ₹90.08 crore during the comparable year-ago period.
The loss was caused by an asset impairment of ₹1,400 crore due to the bankruptcy of Aircel and closure of businesses by telecom players.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.