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This article is more than 1 year old.

Coffee Day repays Rs 1,644 crore to 13 lenders after Blackstone deal

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Coffee Day Enterprises Ltd (CDEL), founded by the late VG Siddhartha, on Friday said it has repaid Rs 1,644 crore to 13 lenders after the company concluded a deal with Blackstone Group to sell its technology business park.

Coffee Day repays Rs 1,644 crore to 13 lenders after Blackstone deal
Coffee Day Enterprises Ltd (CDEL), founded by the late VG Siddhartha, on Friday said it has repaid Rs 1,644 crore to 13 lenders, which includes, Axis, Bajaj Finance, Standarf Chartered, Piramal, Yes Bank, and RBL Bank, after the company concluded a deal with Blackstone Group to sell its technology business park.
With this deal, Coffee Day's' debt would come down to Rs 3,100 crore from Rs 4,900 crore earlier, a company spokesperson said.
The company had in August last year agreed to sell the 3.3 million square feet Global Village Tech Park in Bengaluru for Rs 2,700 crore to Blackstone Group and Salarpuria Sattva.
On Friday, Coffee Day informed exchanges it has received Rs 2,000 crore as part of the first tranche, which included an advance paid last month.
The company has been working to pare its debt after the demise of founder VG Siddartha late July last year. CDEL paid full principal and interest to the lenders on Friday, a company spokesperson said.
Axis Bank, Standard Chartered, Piramal, YES Bank, RBL, Bajaj Finance and Indiabulls are among the lenders who have received the money.
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