Debt

Debt financing

With Future merger delayed, RBL Bank looks to sell Rs.105-Cr FCRPL debt

Economic Times  

RBL Bank is seeking buyers for its INR 105 crore loan exposure to Future Corporate Resources Pvt Ltd (FCRPL), which holds a majority stake in Future Coupon, a 51:49 joint venture with Amazon. FCRPL is among 25 corporate loans for which RBL is seeking offers. The decision to sell it comes in the wake of considerable delay in the two-stage merger of 19 Future Group companies with Future Enterprises, followed by a slump sale to Reliance Group entities. RBL is the first private bank to invite offers for a Future company. Over a dozen lenders have a cumulative loan exposure of over INR 25,000 crore to companies of the Kishore Biyani-promoted group.