Deal Highlights:
- KPL faced stress situation due to COVID as end user market i.e., offices/schools/etc. remained shut for long resulting in reduced capacity utilization
- Ongoing project got delayed as lenders held up last mile disbursements with COVID onset
- Comprehensive Debt Resolution involved Interest & Principal repayment moratorium
- Full disbursement of pending loans for capex completion
- Correction in working capital involved by reduction in margins & NFB to FB inter-changeability
Our Contribution:
- Ensured further disbursement for ongoing capex even during the restructuring process
- On boarding lenders for Resolution Plan since paper industry not mentioned in 26 sectors identified by RBI
- Arranged interim funding at reasonable cost, very rare case in restructuring accounts
- Assisted & coordinated for all diligences with the external agencies
- Achieved successful closure within tight timelines as prescribed by RBI with inherent challenges for document execution by all lenders and perfection of security as well