Piramal gets waiver on debt contract after offering to pay Rs 15 bn early

It's a very 'routine treasury transaction,' Piramal Enterprises said in an email response

Piramal Enterprises, a company controlled by Indian billionaire Ajay Piramal, has offered to repay a Rs 15 billion ($208 million) debt to Standard Chartered early after getting a waiver on a covenant, according to people with knowledge of the matter.

The flagship company of the group -- which runs non-bank financiers and a drug maker -- hasn’t furnished additional security, as mandated, for the 9.5 per cent notes maturing in January, the people said, asking not to be identified citing rules. Piramal has offered to repay the debt using money raised from a preference issue to Canadian pension fund Caisse de