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Tulip Telecom in talks with lenders for debt restructure

01 Jan 2013 Evaluate

Tulip Telecom, India’s leading Enterprise Data Services, is in talks with its lenders to restructure its debt with longer maturity periods, including a moratorium on principal and interest payments. The corporate debt restructuring (CDR) programme, which the company will undertake, is not only targeted to ensure better liquidity, will also enable it to focus and strengthen its core operations.

At the end of September 2012, Tulip Telecom had a total debt of Rs 2,400 crore. More than 90% of shares held by promoters, who own about 68% in the company, are pledged with lenders.

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.

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