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IL&FS addresses debt of Rs 43,000 crore, raises recovery estimate to Rs 61,000 crore


IL&FS aims to resolve 62% of total Rs 1 lakh crore debt
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In October last year, the group had targeted to address Rs 50,300 crore of its overall debt by March 2021 and over Rs 56,000 crore by FY2022. The group s overall debt stood at Rs 99,000 crore, as of October 2018.
Bankrupt infrastructure financier IL&FS on Thursday raised its debt recovery target to Rs 61,000 crore, almost 62% of the total financial debt. Last year the group has said that it could resolve loans worth Rs 56,000 crore. The new board led by veteran banker Uday Kotak said that it had so far resolved debt worth Rs 43,000 crore. Though it had earlier set a target to recover about Rs 50,000 crore by end of March 2021. ....

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IL&FS completes stake sale in China road asset; deal to address Rs 2,600 crore debt


IL&FS completes stake sale in China road asset; deal to address Rs 2,600 crore debt
The transaction will help the group address Rs 2,600 crore of its overall debt of close to Rs 99,000 crore (as of October 2018).
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By PTI
MUMBAI: Debt-laden Infrastructure Leasing and Financial Services (IL&FS) on Thursday announced completion of 49 per cent stake sale in its Chinese road asset - Chongqing Yuhe Expressway Co Ltd (CYEC).
The stake is sold to China Merchants & PingAn Infrastructure Phase 1 Equity Investment Fund (Tianjin) Co Ltd (PingAn), a fund jointly owned by PingAn Insurance and China Merchants, a release from IL&FS Group said. ....

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IL&FS completes stake sale in China road asset; deal to address Rs 2,600 cr debt


Debt-laden Infrastructure Leasing and Financial Services (IL&FS) on Thursday announced completion of 49 per cent stake sale in its Chinese road asset - Chongqing Yuhe Expressway Co Ltd (CYEC).
The stake is sold to China Merchants & PingAn Infrastructure Phase 1 Equity Investment Fund (Tianjin) Co Ltd (PingAn), a fund jointly owned by PingAn Insurance and China Merchants, a release from IL&FS Group said.
The transaction will help the group address Rs 2,600 crore of its overall debt of close to Rs 99,000 crore (as of October 2018).
The group, through its step-down Singapore-based subsidiary, ITNL International Pte Ltd (IIPL), was holding 49 per cent stake in CYEC. The balance 51 per cent stake in CYEC is held by Chongqing Expressway Group (CEG). ....

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IL&FS board addresses 57% of targeted recovery value of over Rs 56,000 cr


The board of Infrastructure Leasing & Financial Services (IL&FS) on Friday said it had addressed nearly Rs 32,000 crore of the group’s aggregate debt pile of nearly Rs 1 trillion by the end of the December quarter (Q3) of FY21.
The board has also received the necessary approvals for its infrastructure investment trust (InvIT), which targets to resolve approximately Rs 13,000 crore of debt, and plans to launch it soon. It has got the Securities and Exchange Board of India (Sebi) registration certificate, approval from the committee of creditors of IL&FS Transportation Networks (ITNL) for transfer of phase-I assets, and green channel notification for Competition Commission of India (CCI) approval for the InvIT. ....

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