Lenders relieved as Vodafone Idea repays bondholders Rs 1,500 cr on time

Firm is now in the process of extinguishing bonds with the depositories; Next tranche of forex bonds worth Rs 1,055 cr are maturing on Dec 31, and another Indian currency bond matures Jan 4

In a big relief to the lenders, Vodafone Idea, a joint venture between Vodafone PLC and Aditya Birla Group, has paid its bond holders on time on Monday thus averting any financial default.

As per a banker, the company paid its principal worth Rs 1,500 crore and interest of Rs 114 crore on the 7.57 per cent Unsecured Redeemable Non-Convertible Debentures. The company is now in the process of extinguishing the bonds with the depositories.

The next tranche of bonds in foreign currency worth Rs 1,055 crore are maturing on December 31st and another Indian currency bond is maturing on