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Rakesh Jhunjhunwala's Rare Equity in talks to prepay Rs 500 crore Barclays debt
Rakesh Jhunjhunwala Rare Equity, a stock trading firm built by the late veteran stock market investor Rakesh Jhunjhunwala, has approached Barclays to prepay Rs 500 crore debt as the company restructures itself after the demise of the Indian billionaire, The Economic Times reported on October 10, citing sources familiar with the development. Moneycontrol could not independently verify the report. The money was raised by Rare Equity by placing zero-coupon bonds with a Barclays entity. Rare Enterprises or other firms he controlled had very little debt," he added. Understandably, officials of Rare Enterprises would negotiate to lower any prepayment charge. Source - Money Control
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