Lenders to troubled McLeod Russel go to SBI Caps for loan restructuring

A similar restructuring of loans is being considered by the lenders for another Williamson Magor entity, McNally Bharat Engineering

Lenders to financially troubled McLeod Russel, the tea growing entity which is part of the Khaitans’ Williamson Magor group, have asked SBI Caps to formulate a plan to tide over the company’s debt woes, said two people familiar with the development.
 
According to sources, some of the options being evaluated by SBI Caps are debt refinance and restructuring. The collective exposure of the consortium that has lent to the company is Rs 2,000 crore. Sources said a significant part of McLeod’s debt would come for repayment in the next three to six months.
 
According to a senior official