Coffee Day Enterprises defaults on interest payments
Posted On : Friday, January 10, 2020, 9:51 AM
Coffee Day Enterprises (CDEL) has defaulted on payments of interest on loans from banks, financial institutions and unlisted debt securities in the December quarter, signalling a continuing liquidity squeeze. The company had a loan outstanding of Rs 489 crore in the quarter and it defaulted on interest payment of Rs 9.4 crore. It is expected to get some respite after its lenders give the nod for the deal with Blackstone and developer Salarpuria Sattva for CDEL's technology park, Global Village, in Bengaluru for Rs 2,700 crore.