MUMBAI: Dewan Housing FinanceNSE -1.28 % Ltd (DHFL) has missed Tuesday’s interest payment deadline on a set of outstanding bonds, but the embattled company is in talks with financiers to help meet its Rs 1,000-crore-plus obligation within the seven-day grace period and prevent a default.
Multiple market sources told ET that UTI Mutual Fund and some private sector lenders, including Axis BankNSE 1.25 % and IndusInd BankNSE -1.48 %, were among the investors that bought DHFL debt sold last ..
Emails sent late in the evening to DHFL and the three institutional investors remained unanswered till press time.
Mutual Funds will have to Mark Down Investments
“Also, banks are shut tomorrow (Wednesday) because of Eid. The financing could come in by the end of this week,” the person said.
Mutual Funds will have to Mark Down Investments
“Also, banks are shut tomorrow (Wednesday) because of Eid. The financing could come in by the end of this week,” the person said.
DHFL is also holding talks with US-based Oaktree Capital on offloading wholesale realty loans worth Rs 17,000-18,000 crore, and has signed a nonbinding pact to this effect, ET reported on May
17. “The proposed Oaktree deal should come in the next few days, giving relief to bond holders,” said an investor who is in touch with the DHFL management.
In September, DHFL faces another big round of payments.
Some large state-owned companies are expected to extend credit lines ..
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