JSW Energy Ltd - 533148 - Agreement With Jaiprakash Power Ventures Ltd (JPVL) To Re-Structure The Debt Owed By JPVL To The Company
This is to inform that the Company has entered into an agreement with JPVL on 2nd January, 2020 to re-structure the principal outstanding amount of Rs.751.77 crore, owed by JPVL to the Company. The key terms of the agreement are as follows: An amount of Rs.351.77 crore to be converted into equity shares of JPVL at par value of Rs.10 each. Out of the balance outstanding principal amount of Rs.400 crore, Rs.280 crore to be written off and Rs.120 crore to continue as debt to be paid by JPVL to the Company, quarterly on priority basis, out of the available cash flows after JPVL has paid 10% of the re-structured sustainable debt to its secured lenders.02-01-2020