Other Deals

L&T Finance group sell Rs.1,827-Cr loans to ARCIL: report

Economic Times  

L&T Finance and its subsidiary L&T Infra Credit jointly have sold INR 1,827.5 crore of distressed loans to Avenue Capital-backed Asset Reconstruction Company of India (Arcil). ARCIL will pay INR 1,092.5 crore for the loan portfolio in a 15:85 structure, where 15% of the consideration was paid upfront and the remaining in the form of security receipts payable on recovery of the loan.

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