Metro Express Faces $340 Million Debt Crisis

Metro Express Ltd is struggling with its financial obligations and is currently unable to repay its debts. The company’s financial outlook appears bleak, primarily due to a significant loan of $340 million (approximately Rs 15.98 billion) taken out as part of a credit line from India.

As of June 2024, the government has provided Metro Express with a total of Rs 1.1 billion in loans, aimed at covering interest payments and a portion of the company’s operational expenses.

However, the repayment of the principal amount for the loan, which is roughly Rs 900 million, is not set to begin until the financial year 2026-2027.

Each year, the company will require around Rs 1.2 billion to meet its obligations for both the principal and interest on the loan. In addition, Metro Express will need extra funds to manage its operational

Source: Defi Media