Both Deutsche and Goldman are in talks to jointly lend to Bilt Paper, said the second person. “Bilt Paper is primarily looking to raise short-term debt, which is typically less than a year, extending up to 364 days.”Spokespersons for Deutsche Bank and Goldman India declined to comment on the story, while an email sent to Bilt Paper remained unanswered till the time of going to press. In November, Mint had reported that talks between Bilt Paper and JK Paper Ltd to sell two units at Ballarpur and Asthi in Maharashtra had reached a dead-end because of disagreements on valuation. The company’s subsidiaries include Ballarpur International Graphic Paper Holdings B.V. and Sabah Forest Industries, Malaysia’s largest pulp and paper company. Bilt Paper has been facing acute working capital shortage, forcing the company to shut a few units, the people cited above said.

Source: Mint January 22, 2017 23:17 UTC