Bhushan Steel gets S4A-ready, submits final proposal to banks

Close to 50 banks have an exposure to the company

Jyoti Mukul & Megha Manchanda  |  New Delhi 

One of the biggest corporate debt restructuring programmes could kick off if leading public sector banks admit New Delhi-based Bhushan Steel into the scheme for sustainable structuring of stressed assets (S4A). A final proposal for S4A was submitted recently. People close to the development said State Bank of India (SBI) and Punjab National Bank (PNB) were the lead bankers to the group, which has been in financial distress for some time.  Close to 50 banks have an exposure to the company. While the chunk of the term lending has been by SBI, the working capital loan has ...

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Bhushan Steel gets S4A-ready, submits final proposal to banks

Close to 50 banks have an exposure to the company

Close to 50 banks have an exposure to the company One of the biggest corporate debt restructuring programmes could kick off if leading public sector banks admit New Delhi-based Bhushan Steel into the scheme for sustainable structuring of stressed assets (S4A). A final proposal for S4A was submitted recently. People close to the development said State Bank of India (SBI) and Punjab National Bank (PNB) were the lead bankers to the group, which has been in financial distress for some time.  Close to 50 banks have an exposure to the company. While the chunk of the term lending has been by SBI, the working capital loan has ... image
Business Standard
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