HomeNewsNewsFuture Retail Pays $14 million interest on US Dollar Notes In Grace Period

Future Retail Pays $14 million interest on US Dollar Notes In Grace Period

Debt-ridden Future Retail has made a payment of USD 14 million (around Rs 104.55 crore) for interest due on the dollar-denominated notes (USD Notes) listed on the Singapore Stock Exchange after missing the due date last month. The USD notes had a grace period of 30 days for making the payment of interest, stated a regulatory filing from Future Retail, which operates chains such as Big Bazaar and Easyday and Heritage among others. “Further, we would like to inform that on 18th February 2022 the company has made the payment of said interest for the half-year ended for an amount of USD 14 million on above USD Notes,” said the Future Group firm. The Senior Secured Notes notes had an interest of 5.60 per cent and due in 2025. Future Retail, on January 24, 2022, had said it had a payment of interest due on the USD Notes as its liquidity position had remained affected due to the continued impact of the…

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