KTM Co-Owner Bajaj Auto Signs €566m Loan Before Funding Deadline

KTM Co-Owner Bajaj Auto Signs €566m Loan Before Funding Deadline

The co-owner of the KTM AG motorcycle maker has secured a €566 million ($632 million) one-year loan within days of a deadline to fund an insolvency plan at the troubled Austrian company.

The motorcycle manufacturer KTM must distribute almost EUR 600 million as a cash quota to its creditors by 23 May in order to ensure the final rescue after the insolvency.

Seven days remain for the rescue of KTM. If on 24 May there are not 600 million euros at the table, the bankruptcy is inevitable.

The tension in the KTM insolvency proceedings is rising: at the latest in a week, the 30 percent cash ratio must have been imposed on creditors at the remediation administrator Peter Vogl. This is almost 600 million euros, of which it is not known how to raise them. If this does not happen, bankruptcy is inevitable. All the players had recently shown themselves word-sharp but optimistically, and the stock exchange also seems to be speculating on…

MATTIGHOFEN. The tension in the KTM insolvency procedure is increasing: Sp testing in one week must have imposed the 30-percent cash rate on the creditors at the restoration manager Peter Vogl.