Reuters logo
BUZZ-India's Bhushan Steel surges to 20-mth high after report on loan restructuring
April 10, 2017 / 4:40 AM / 7 months ago

BUZZ-India's Bhushan Steel surges to 20-mth high after report on loan restructuring

** Bhushan Steel Ltd rises as much as 8.3 pct to its highest since Aug 10, 2015

** Co last month submitted final proposal for debt restructuring under the central bank’s S4A scheme, Business Standard reported, citing unnamed people close to the developments

** S4A, or Scheme for Sustainable Structuring of Stressed Assets, was unveiled by RBI last year to make debt recasts easier

** State Bank of India and Punjab National Bank lead two groups of creditor banks to Bhushan Steel

** Bhushan Steel had debt of 460.62 billion rupees ($7.15 billion) as of last financial year to March 2016

** Bhushan Steel was not immediately available for comments ($1 = 64.4300 Indian rupees)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below