Bajaj-backed KTM's creditors take 70% cut in debt recast

Creditors of Austrian motorbike maker KTM AG have approved a restructuring plan that will write off 70% of the company's debt. The plan requires KTM to secure ₹548 million in funding by May 23 to pay creditors and resume production with new investments from an extended circle of shareholders, including Bajaj Auto.

from Auto-Industry-Economic Times https://ift.tt/VwRSk3J