Bankers Deluged as Debt ‘Party’ Turns to Revamp: Corporate India
This article is for subscribers only.
Supratim Sarkar, head of structured finance at SBI Capital Markets Ltd., receives as many as three requests every week from companies to restructure debt. He’s so busy he rejects more than half of them.
SBI Capital, a unit of State Bank of India, the nation’s largest bank, may revamp 500 billion rupees ($9.1 billion) in loans in the year ending March 31. That’s a 15-fold jump from 33 billion rupees of debt the firm helped renegotiate two years ago, he said in an interview in Mumbai. The investment bank did not revamp any loans in the 12 months to March 31, 2010.