InvestorQ : What is the latest on the HCC case since it was stuck with a huge mountain of debt?
shrinidhi Rajan made post

What is the latest on the HCC case since it was stuck with a huge mountain of debt?

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Riya Dwivedi answered.
1 year ago
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According to recent reports, the lenders to HCC are planning to carve out about Rs.2,100 crore of debt of HCC to a third-party-controlled special purpose vehicle (SPV). As a result, it is estimated that certain arbitration awards and claims will also move to the SPV and will help to significantly deleverage the company and reduce the debt burden. The tenure of such debt that is transferred to the SPV will have a maturity of 10 years and repayments from the proceeds of the awards will yield a higher IRR. The company will seek requisite corporate approvals for the transaction.

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