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Tata seeks covenant waivers on Mundra
21 June 2012
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[tata]
[ifc]
[kexim]
[k-sure]
[ifc]
[covenant]
[waiver]
Tata Power has asked lenders to its Mundra ultra mega power projects for waivers of covenant breaches as it struggles with fuel supply issues and exchange rate fluctuations. Tata Power has already booked an impairment of Rs18 billion ($320 million) on the project's total value, and will be unable to draw more than 83% of the project...
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