Lenders to India's Bharati Shipyard Ltd are considering restructuring the company's loans worth about Rs 77.4 billion ($1.5 billion), sources familiar with the matter told Reuters on Thursday.
The loans to be restructured include external commercial borrowing and debentures and involve 29 banks led by State Bank of India, said one of the sources.
"This proposal will be discussed in the next meeting, which is scheduled around Jan. 12," said the second source.
A third source said Bharati Shipyard had term loans of Rs 28 billion and working capital loans of 6 billion rupees. The company has ship-building orders worth Rs 75 billion on its books.
Bharati Shipyard officials declined to comment on the proposed restructuring.
The loans to be restructured include external commercial borrowing and debentures and involve 29 banks led by State Bank of India, said one of the sources.
"This proposal will be discussed in the next meeting, which is scheduled around Jan. 12," said the second source.
A third source said Bharati Shipyard had term loans of Rs 28 billion and working capital loans of 6 billion rupees. The company has ship-building orders worth Rs 75 billion on its books.
Bharati Shipyard officials declined to comment on the proposed restructuring.