(Bloomberg) -- Beleaguered Indian tycoon Anil Ambani is on an asset sale spree to raise funds to meet mounting debt obligations.
New fundraising via such sales will help Reliance Capital Ltd., the last stronghold of the former billionaire’s wider conglomerate, to pay 11 billion rupees ($158 million) that comes due over the next month. The company is in talks to sell its general insurance unit to Hero FinCorp Ltd., people familiar with the matter said.
Over the past two weeks, Ambani also announced the sale of a radio station and mutual fund business to repay creditors. The holding company for the group’s financial services business and its units Reliance Home Finance Ltd. and Reliance Commercial Finance Ltd. were recently downgraded several notches by rating companies, which cited the cash crunch and delays in asset sales.
Credit market stakeholders will be watching out for following payments.
Borrower | Security | Servicing date | Obligation | Amount due (in million rupees) |
Reliance Capital | 8.75% June 2021 | June 2 | Interest | 196.88 |
Reliance Capital | 8.75% June 2019 | June 6 | Interest and principal | 271.88 |
Reliance Home Finance | 9.5% June 2025 | June 9 | Interest | 19 |
Reliance Capital | 8.75% June 2021 | June 10 | Interest | 43.75 |
Reliance Capital | 8.75% June 2023 | June 10 | Interest | 43.75 |
Reliance Home Finance | 10% Dec. 2022 | June 11 | Interest | 0.50 |
Reliance Home Finance | 9.5% June 2025 | June 12 | Interest | 9.50 |
Reliance Capital | 10.5% June 2022 | June 13 | Interest | 21 |
Reliance Commercial Finance | 9.15% June 2019 | June 15 | Interest and principal | 3711.1 |
Reliance Home Finance | 9.5% June 2025 | June 15 | Interest | 9.5 |
Reliance Home Finance | 9.8% June 2019 | June 19 | Interest and principal | 109.8 |
Reliance Capital | 10.35% June 2022 | June 20 | Interest | 5.18 |
Reliance Capital | 10.35% June 2020 | June 21 | Interest | 5.18 |
Reliance Capital | 8.75% June 2019 | June 24 | Interest and principal | 1359.38 |
Reliance Capital | 8.75% June 2021 | June 24 | Interest | 87.5 |
Reliance Home Finance | 8.81% June 2021 | June 24 | Interest | 11 |
Reliance Home Finance | 8.81% June 2019 | June 24 | Interest and principal | 783 |
Reliance Home Finance | 8.81% June 2023 | June 24 | Interest | 13.2 |
Reliance Capital | 9.25% June 2023 | June 25 | Interest | 5.55 |
Reliance Home Finance | 9.8% June 2019 | June 27 | Interest and principal | 54.9 |
Reliance Home Finance | 9.1% June 2019 | June 28 | Interest and principal | 4364 |
Reliance Capital | 9.12% June 2020 | June 29 | Interest | 13.68 |
Reliance Capital | 10.4% June 2022 | June 29 | Interest | 41.6 |
Reliance Home Finance | 9.5% June 2025 | June 29 | Interest | 9.5 |
©2019 Bloomberg L.P.