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News Roundup: Nimbus Communications is in talks with bankers to restructure debt

21 October, 2013

Sports broadcaster Nimbus Communications Ltd, which operates Neo Sports television channel, is in discussions with its bankers to restructure debt. The company is considering options including a rights issue, preferential issue, shareholder loans or convertibles, debt rollover or refinancing, re-structuring, partial sale of its TV and sports library assets and others. Specialist advisers are being consulted and a decision will be taken in a month or two. Nimbus has not announced its earnings since the fiscal year ended March 2012. In the previous fiscal, its loss stood at Rs 49 crore compared with a net profit of Rs 19 lakh in the year earlier. (Live Mint) 

Neyveli Lignite shortlists 18 proposals for overseas coal assets: State-owned Neyveli Lignite has shortlisted 18 odd proposals  out of 89 it has received from companies in various nations such as Indonesia, Australia, Mozambique and the US  for buying coal assets overseas. The company is looking to acquire 2-3 assets for supply of 2-10 million tonne (MT) of coal in a year to secure long- term fuel linkages to its upcoming power projects. The firm received proposals from Indonesia, Mozambique, Australia, Columbia, US and Canada. The 89 proposals are under five different categories, including joint ventures. (Economic Times)  

DCB Bank not to seek extension to dilute promoter holding: Private sector lender DCB Bank is confident of getting down the promoter holding to the Reserve Bank of India (RBI)-mandated levels by March next year and will not seek an extension this time. Aga Khan Fund for Economic Development (Akfed) and Platinum Jubilee Investments the promoters of the bank are required to reduce their holding to 10% from the current 18.5% by March 2014. In the previous two dilutions happened the promoters had a stake of nearly 25% through issue of fresh shares. (Live Mint)

Courtesy: VCCEdge

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News Roundup: Nimbus Communications is in talks with bankers to restructure debt

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