Debt Financing

Clix Capital, Clix Finance sell Rs.107-Cr dues of Coffee Day unit to Phoenix ARC for Rs.87-Cr

Economic Times  

Apollo Global Management-backed Clix Capital and Clix Finance have jointly sold their dues of INR 107 crore in Coffee Day Hotels & Resorts to Phoenix ARC Pvt Ltd for INR 87 crore. The deal represents a recovery of 81% for Clix Capital and Clix Finance. Clix Capital sold principal dues of INR 11 crore, while Clix Finance sold INR 96 crore. Both loans were backed by share pledges of Coffee Day Enterprises and its step-down subsidiary, Coffee Day Global. Coffee Day Hotels is a 100% subsidiary of listed Coffee Day Enterprises, with liabilities of INR 330 crore. The liabilities include bank creditors and trade creditors dues.

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