Jaiprakash Associates misses interest payment on bonds2 min read . Updated: 09 Mar 2016, 01:50 AM IST
Firm says dues will be paid from the proceeds of the proposed sale of its cement assets to UltraTech Cement
Debt-laden infrastructure company Jaiprakash Associates Ltd has missed interest payment due on 7 March on its bonds worth $150 million. The interest will be paid later from proceeds of its sale of cement assets, the company said in a statement to BSE on Tuesday. “Interest was payable on the bonds on the semi-annual interest payment date of 7 March 2016. The issuer wishes to inform you that it has not paid such interest. The issuer intends to engage in discussions with holders of the bonds," the statement said.
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