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Reliance Defence likely to exit CDR this week

Reliance Defence likely to exit CDR this week

Thursday, March 30, 2017, 12:07 PM

Reliance Defence and Engineering expects to exit the corporate debt rejig package this week with the lenders agreeing to longer maturity period for loans worth about Rs 6,800 crore. Besides, lenders would convert debt to the tune of Rs.650 crore into equity, sources said. Post the Corporate Debt Restructuring (CDR), Reliance Infrastructure would have 31% stake in Reliance Defence and Engineering Ltd (RDEL).
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