Essel Group Agreement With Lenders May Only Buy Them A Few More Months

A number of Essel Group entities to which mutual funds have exposure have debt maturing in 2019.

For Limited Time Only. (Photographer: Hannelore Foerster/Bloomberg)
For Limited Time Only. (Photographer: Hannelore Foerster/Bloomberg)
Corporate debt investors just can’t seem to catch a break lately. The default by once AAA-rated Infrastructure Leasing and Financial Services. Fears over liquidity position of non-bank lenders. Defaults in ring-fenced operational infrastructure projects of IL&FS. And now the deterioration in the financial position of another large conglomerate—the Subhash Chandra-led Essel Group.Over the weekend, the Essel Group said that it had arri...
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