Receives CDR EG approval on 19 March 2014
Educomp Solutions has announced that the request for restructuring its debts outstanding on reference date (08 July 2013) comprising working capital debt of Rs 399.04 crore and long term debt of Rs 83.05 crore with CDR Lenders has been approved by CDR Empowered Group vide letter of approval dated 19 March 2014.The restructuring package agreed with CDR Lenders (led by State Bank of Patiala) envisages extended repayment tenure of 10 years including moratorium period of 2.5 years from Cut off Date (01 April 2013) and funding of interest for a period of 2 years from Cut off Date.
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