Infrastructure giant GVK Group may be set to undergo one of its largest ever debt restructuring drive for its airport business worth a whopping Rs 9400 crore via the 5:25 route.
The company is planning to restructure the debt of its Bengaluru & Mumbai airport and has approached public sector lender State Bank of India (SBI) to participate as third party for the Bengaluru debt restructuring.
ICICI Bank is the consortium leader for Bengaluru airport restructuring while IDBI Bank will be the consortium leader for the Mumbai airport.
The company that currently has a debt of Rs 24,500 crore is seeking to use the cash flows from Bengaluru restructuring for further expansion.
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