Debt

Debt Financing

HDFC, Axis Bank sell Reliance Capital debt facilities to ACRE

Economic Times  

Ares SSG Capital-backed Assets Care & Reconstruction Enterprise (ACRE) has acquired debt facilities from HDFC and Axis Bank at 27-28 paise on a rupee. It has purchased an INR 524-crore term loan from housing finance company HDFC Ltd and a INR 100-crore term loan and INR 490-crore non-convertible debentures (NCDs) from Axis Bank. Both trades were carried out on an all-cash basis. The Anil Dhirubhai Ambani Group-promoted finance company has total liabilities of INR 19,123 crore.