April 30, 2020 / 12:41 PM / a month ago

Troubled Finablr reports nearly $1 billion more debt

(Reuters) - Payments group Finablr (FINF.L) said on Thursday its debt position of $1.3 billion was materially above what was stated as of June 2019 following a review with its creditors and independent investigators.

The company, which added that it was currently verifying the debt level, said that it and independent financial adviser Houlihan Lokey were engaging with Finablr’s creditors to explore options that were available to the group and its lenders.

Finablr had posted a net debt of $334.1 million at the end of June.

Reporting by Yadarisa Shabong in Bengaluru; Editing by Ramakrishnan M.

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