Embattled Jain to restructure dollar debt

By Alice Huang
11 Aug 2020

Indian agricultural company Jain Irrigation Systems, which has been navigating a liquidity crisis for more than a year, has put in place two restructuring plans for its onshore and offshore debt.

Jain has been facing financial difficulties over the past year. For the quarter ending March 31, 2020, Jain reported a Rp3.2bn ($43m) loss, higher than the Rp2.8bn loss it reported the previous quarter. It also posted a negative Ebitda of Rp1.68bn, according to results published on July 31. ...

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