Bengaluru, Aug 17 (IANS) The Coffee Day group on Saturday said its total outstanding debt was Rs 4,970 crore, including Rs 4,796 crore secured loans and Rs 174 crore in unsecured loans.
"The management has decided to clarify its debt position, the expected reduction and post conclusion of the ongoing divestment transactions," said the city-based company in a regulatory filing on the BSE.
Of the total debt, that of Coffee Day Enterprises Ltd is Rs 480 crore, Coffee Day Global Ltd is at Rs 1,097 crore, Way 2 Wealth Ltd at Rs 121 crore, Tanglin Developments Ltd at Rs 1,622 crore, Tanglin Retail Reality Developments Ltd Rs 15 crore, Coffee Day Hotels and Resorts Ltd Rs 137 crore, Sical Logistics Ltd Rs 1,488 crore and Magnasoft Consulting India Ltd Rs 10 crore.
"The clarification is in light of speculation in a section of the media on our debt position after the demise of our founder-chairman V.G. Siddhartha on July 31," Company Secretary Sadananda Poojary in the filing.
The company's board on August 14 decided to sell Global Village Tech Park of its subsidiary Tanglin Developments Ltd in Bengaluru to the US-based private equity firm Blackstone for Rs 2,600-3,000 crore over the next 30-45 days.
"The group's debt position will reduce to Rs 2,400 crore on receipt of the Global Village's sale proceeds from Blackstone and settlement of statutory payments," it said in the filing.
The company is expected to be in a position to service the reduced debt obligations.
"Sical has been working on divestment of certain assets, whose proceeds will reduce its debt," said Poojary.
The company has requested the lenders and creditors to give it time to honour the commitments and unlock the potential value of its assets.
The group has provided direct and indirect employment to about 50,000 people.
New York, Feb 19 (IANS) The US dollar was up in late trading on Tuesday due to rising risk aversion in the market.
The ZEW Indicator of Economic Sentiment for Germany decreased sharply in February, falling 18.0 points to a new reading of 8.7 points, according to latest release by Leibniz Centre for European Economic Research (ZEW) on Tuesday, the Xinhua news agency reported,
On Tuesday morning, the exchange rate of Euro against US dollar once fell to 1.0786, the lowest level since April 21, 2017.
"The Euro is again under selling pressure this morning as it touched a three-year low against the U.S. dollar. The most recent dip lower for the Euro was caused by data out of Germany that showed investor confidence came out weaker than expected," said U.S. foreign exchange payment platform Tempus on Tuesday.
The dollar index, which measures the greenback against six major peers, was up 0.26 per cent at 99.4436 in late trading.
In late New York trading, the euro was down to $1.0792 from $1.0833 in the previous session, and the British pound was down to $1.2999 from $1.3000 in the previous session. The Australian dollar fell to 0.6685 dollar from 0.6715 dollar.
The dollar bought 109.87 Japanese yen, lower than 109.93 Japanese yen of the previous session. The dollar was up to 0.9828 Swiss franc from 0.9809 Swiss franc, and it was up to 1.3252 Canadian dollars from 1.3234 Canadian dollars.