GMR Infrastructure Ltd (GIL) has executed a bilateral resolution plan between its associate company, GMR Rajahmundry Energy Ltd (GREL) and the GREL lenders.
Through the resolution approved by all the lenders, the existing debt of Rs 2353 crore has been brought down to a sustainable debt of Rs 1412 crore. And against the sustainable debt of Rs 1412 core, the GMR Group has already infused Rs 395 crore towards meeting 20% of principal towards repayment of the sustainable debt and the interest servicing obligations of GREL for the first year. This leaves balance outstanding sustainable debt of Rs 1130 crore carrying a floating rate of 9 % per annum repayable over 20 years.
