GoldenTree exits Vi lenders’ consortium, remaining members may sign binding pact

US-based GoldenTree Asset Management has exited the Oak Hill Advisors-led foreign lenders’ consortium that is arranging around a $2 billion (about Rs 15,000 crore) credit-line for ailing Vodafone Idea NSE 4.09 % (Vi) following differences over lending terms and valuations, two people with direct knowledge said.

The remaining members of the consortium, including Pacific Investment Management Co (PIMCO), Sixth Street, Twin Point Capital and Varde Partners, though, they said, are strongly committed and likely to ink a binding pact with Vi by end-February, just ahead of the upcoming 4G spectrum auction, starting March 1.