Tulip Telecom India’s leading Enterprise Data Services has initiated discussions with its senior lenders to restructure its debt with longer maturity periods under the Corporate Debt Restructuring (CDR) mechanism, including a moratorium on principal and interest payments. The debt-restructuring exercise will ensure better liquidity and enable the company to focus and strengthen its core operations.
Further, with regards to the company’s FCCB redemption, its ongoing engagement with bondholder continues to be constructive and progressive and it expects to reach an acceptable solution for all stakeholders at the earliest possible date.
Tulip Telecom is India’s leading Enterprise Data Services provider. The company’s data network has the largest reach of over 2,000 locations globally. The company designs, implements and manages communications networks of large enterprises on long term contracts to include enterprise communications connectivity, network integration, managed services and data centers.