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Hindustan Construction Company (HCC)‘s lenders have agreed for restructuring of its loans under the recent S4A scheme of RBI.
The company has said in a BSE filing that ” The joint lenders’ forum meeting of HCC held on July 12, 2016 has passed to resolve the account under the recent RBI guidelines Scheme for Sustainable Structuring of Stressed Assets (S4A).”
It added that ” Under S4A scheme, the debt of the company will be bifurcated into two parts-sustainable debt, which cannot be less than 50 percent of existing debt and will have to be serviced over the same terms as that of existing facilities.”
