Goswami Infratech, part of the Shapoorji Pallonji Group, has proposed enhanced terms to bondholders in exchange for more time to repay its debt. The company is looking to extend the repayment deadline from May 26 to September 30, 2024. This request comes as Goswami Infratech faces difficulties in raising new debt, primarily due to the broader economic impact of the COVID-19 pandemic and ongoing financial challenges within the group.
Source:- BBC news
To secure the extension, Goswami Infratech has offered additional incentives to bondholders, although the specific enhancements have not been publicly detailed. These incentives are intended to reassure bondholders of the company’s commitment to fulfilling its obligations and to avoid a “trigger event” that could worsen its financial situation .
Source:- India today
The proposed extension will help Goswami Infratech manage its liquidity more effectively and ensure smoother operations. This move underscores the company’s efforts to maintain a positive relationship with investors and highlights the strong partnership within the Shapoorji Pallonji Group.
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