DHFL Defaults On Rs 1,571-Crore Worth Of Bond Repayments
DHFL Banner on a building. (Source: BloombergQuint)

DHFL Defaults On Rs 1,571-Crore Worth Of Bond Repayments

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Dewan Housing Finance Corporation Ltd. on Monday said it has defaulted on financial repayment obligations worth Rs 1,571 crore with regard to issuance of bonds and commercial papers.

The DHFL defaults pertain to three cases with regard to interest payment on non-convertible debentures and commercial papers, the firm said in a regulatory filing.

Putting out a break-up, DHFL said it has defaulted on Rs 46.92 crore interest amount on secured NCDs (9.92 percent and 9.40 percent/10-year tenor). It also defaulted on payments towards NCDs issued through a public issue for multiple tenors of amount involving interest of Rs 363.77 crore and principal amount of Rs 1,059.91 crore.

A further default of Rs 100 crore occurred on commercial papers.

The crisis-hit housing finance firm has not been able to fulfill its obligations towards debt repayment in the recent past and there have been several cases of defaults on commercial papers and bonds.

The company is estimated to be sitting on a debt-pile of over Rs 90,000 crore.

On Monday, DHFL shares rose 6.86 percent to Rs 49.05 apiece on the BSE while the benchmark Sensex gained 0.14 percent to end the day at Rs 37,402.49 points.

Also read: DHFL’s Debt Restructuring: The Fineprint

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