HCC to raise Rs 1,750 crore through monetisation of claims

Debt to reduce by Rs 1,250 crore; additional liquidity of Rs 500 crore to drive growth

Hindustan Construction Company (HCC) on Tuesday said it was raising Rs 1,750 crore through monetisation of claims and signed terms with a consortium of investors, led by BlackRock, who will seek to monetise an identified pool of arbitration awards and claims for the construction giant.

“Under the terms of the transaction, HCC will transfer its beneficial interest and rights in an identified portfolio of arbitration awards & claims to a special purpose vehicle (SPV) controlled by a consortium of investors, including BlackRock,” the company said in a statement.

HCC will receive a consideration of Rs 1,750 crore from the SPV, which will