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GTL likely to go for debt restructuring

Friday 15th Jul 2011 1215

Mumbai : Equity infusion of Rs 2,000 crore likely, SBI Capital’s advisory report expected by end of month.

Cash-strapped telecom infrastructure company, GTL Limited is likely to head for corporate debt restructuring (CDR) forum to rework its debt payment obligations. The proposed restructuring is likely to see an equity infusion of Rs 2,000 crore, said sources in the know.

Although no final decision was taken, GTL’s lenders are preparing the grounds to consider a proposal for a financial restructuring through CDR, said banking industry sources.

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