Mumbai: Distressed power producer Rattanindia Power Ltd has completed a debt resolution of ₹6,574 crore through a one-time settlement scheme, led by a consortium of investors including Goldman Sachs and Varde Partners. Of the entire existing principal debt amount, ₹4,050 crore will be assigned to a new set of investors and lenders which includes Goldman Sachs and Varde Partners, through the Aditya Birla ARC Ltd. “Rattanindia Power has built world class operating plants which required a comprehensive capital structure solution. Accordingly we have been working closely with our lenders to find a solution for resolution of the financial stress. Today, therefore, achieves a big milestone in its history when we got marquee investors to join us in closing a One Time Settlement resolution with our lenders," said Rajiv Rattan, chairman and promoter of Rattanindia Power.

Source: Mint December 31, 2019 12:11 UTC