Brief: India's HCL Infosystems Says Has Debt Refinancing Facility With Guarantee of 2.5 Bln Rupees

HCL Infosystems

05/11/2019 12:09

Nov 5 (Reuters) - HCL Infosystems Ltd  HCLI.NS :
    * EVALUATING, PURSUING STRATEGIES WHICH INCLUDE REDUCTION
AND
EFFECTIVE ELIMINATION OF LOW MARGIN CONTRACTS
    * PURSUING STRATEGIES INCLUDING DISCONTINUANCE OF CLIENTS
WITH
DELAYED PAYMENT HISTORY, SALE OF NON-CORE PROPERTIES
    * PURSUING STRATEGIES  INCLUDING AGGREGATION OR DISPOSAL OF
SOME
UN-REMUNERATIVE BUSINESS OPERATIONS
    * GROUP'S LOSSES MAINLY DUE TO DELAYED RECEIPTS ON
CONTRACTS,
HISTORICAL LOW MARGIN CONTRACTS, FINANCE COSTS
    * HAVE ENGAGED GLOBAL CONSULTING FIRM TO CONDUCT
COMPREHENSIVE
BUSINESS REVIEW OF ENTERPRISE AND CONSUMER DISTRIBUTION
BUSINESSES
    * HAVE 'REASONABLE EXPECTATION' THAT GROUP WILL MEET ALL ITS
CONTRACTUAL OBLIGATIONS, LIABILITIES AS THEY FALL DUE IN NEAR
FUTURE
    * HAS DEBT REFINANCING FACILITY BACKED BY HCL CORPORATION
PVT
LTD'S GUARANTEE OF 2.5 BILLION RUPEES, WHICH WILL PROVIDE
SUPPORT TO OPERATIONS

Source text: (http://bit.ly/32ocMg8)
Further company coverage:  HCLI.NS 

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