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Debt Reduction Options At Jaypee Group

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August 2: With a large amount of Jaypee Group debt coming up for refinancing, what is the possibility of the interest rates rising? JP Associates Executive Chairman Manoj Gaur says the company is working to reduce debt by Rs.14,000-15,000 crores. “The company has no short-terms debts, so rates are unlikely to go up,” he says, adding that most of the debt is in rupees, so there will be no major impact from the current exchange rate situation.