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Private equity funds actively seek investment opportunities. Prestige Group announces debt deal with ADIA and Kotak AIF. Edelweiss Alternative Asset Advisors Limited provides debt financing to Century Real Estate Holdings. ....
The company, with a market capitalisation of ₹2.6 lakh crore, has placed uniquely structured bonds with a clutch of local private credit funds to mobilise ₹500 crore, said two persons familiar with the issuance that closed on January 9. ....
For years, evergreening of loans - throwing new loans to help a stressed or delinquent borrower repay old loans - has worried the regulator. Since rules prohibit lenders from doing this blatantly, some of them, mostly non-banking companies, had figured out a different way some years ago. They cut special deals with foreign credit funds, which bet on comparatively lower-rated bonds, to set up local alternative investment funds (AIFs). ....
For years, evergreening of loans - throwing new loans to help a stressed or delinquent borrower repay old loans - has worried the regulator. Since rules prohibit lenders from doing this blatantly, some of them, mostly non-banking companies, had figured out a different way some years ago. They cut special deals with foreign credit funds, which bet on comparatively lower-rated bonds, to set up local alternative investment funds (AIFs). ....
As part of the plan, Vedanta Resources is to pledge 13% of its stake in Vedanta Ltd (VDL) to secure a $1.25 billion financing package from a group of lenders led by Standard Chartered Bank and New York-based Cerberus Capital Management to help avert a default on $1 billion of bonds that are due in January, according to people familiar with the matter. ....