Mumbai: Lenders to Dewan Housing Finance Corp. Ltd (DHFL) have agreed to restructure the stressed home financier’s outstanding loans of more than ₹38,000 crore. Among the lenders are State Bank of India (SBI), Axis Bank, HDFC Bank, ICICI Bank and Union Bank of India. Over the past few months, DHFL has sold retail loans worth ₹30,000 crore. In January, DHFL sold wholesale loans worth ₹1,375 crore to alternative investment management fund Oaktree Capital, which buys distressed loan portfolios at a discount. Last week, DHFL said it was yet to repay ₹225 crore out of the total ₹375 crore of commercial paper to a dozen investors.

Source: Mint July 01, 2019 16:29 UTC