Secured lenders reject IL&FS' Jammu tunnel debt recast plan

Last December, IL&FS proposed a debt recast for Chenani Nashri Tunnelway Ltd (CTNL), after a ₹3,900 crore deal to sell the special purpose vehicle to I Squared Capital's Cube Highways did not fructify, the people said. IL&FS wanted Cube to improve the offer after signing the agreement, they said.

from Banking/Finance-Industry-Economic Times https://ift.tt/FZsXCOz