Bajaj Auto Ltd. has secured a 566 million loan to fund KTM AG's insolvency plan, as the motorcycle maker faced a May 23rd deadline to deposit 544 million for creditors. KTM, co-owned by Bajaj and Stefan Pierer, filed for insolvency last year due to pandemic-related demand volatility and rising costs. The restructuring deal involves creditors accepting a 70% haircut.
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