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Indias IL&FS defaults on interest payments for three debentures
By Sarah Lizee
Olympia, Wash., Jan. 28 IL&FS Transportation Networks Ltd. gave notice that it did not make interest payments on three series of its non-convertible debentures due to insufficient funds.
Interest was due on Jan. 28 for the following debentures:
Tranche XXV option I (security ITNL 23) debentures, for which Rs. 2,356,712 of interest was due for the period from Oct. 27 to Jan. 26;
Tranche XXV option II (security ITNL 25) debentures, for which Rs. 3,553,973 of interest was due for the period from Oct. 27 to Jan. 26; and
Tranche XXV option III (security ITNL 28) debentures, for which Rs. 17,864,384 of interest was due for the period from Oct. 27 to Jan. 26.
IL&FS Transportation is a surface transportation infrastructure company based in Mumbai.
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