Monday, September 26, 2022

DHFL, Altico default on debt payments

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New Delhi: Two non-banking financial companies — Dewan Housing Finance (DHFL) and Altico — defaulted on debt payments on Friday. While DHFL has a bond repayment obligation of Rs 196.65 crore, Altico had interest payment amounting to Rs 19.97 crore on its external commercial borrowings.
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The two NBFCs informed shareholders

In a regulatory filing on Friday, DHFL informed its shareholders that the default is towards principal and interest of non-convertible debentures (NCD) worth Rs 350 crore.

In a separate regulatory filing, Altico said, “With respect to payment of interest under the external commercial borrowing facility from Mashreqbank PSC, Altico Capital India defaulted on interest payment of Rs 19.97 crore on the gross principal amount of Rs 340 crore.”

Altico said that their total borrowing from banks and financial institutions is Rs 4,361.55 crore as on September 12.

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