Vodafone Idea in talks with banks for loan recast

Mumbai: Vodafone Idea (Vi) has held talks with lenders, including consortium lead State Bank of India (SBI), for a possible recast of loans through a potential standstill on interest payments, longer repayment tenures or lower rates, two people familiar with the discussions told ET.

The recast, if approved, could ease the financial strain on the telco that has a funded exposure of nearly Rs 14,000 crore. SBI alone has an exposure of about Rs 11,000 crore.