The Jaypee Group has restructured its outstanding foreign currency convertible bonds (FCCBs) after renegotiating with investors, including Goldman Sachs and Deutsche Bank. The deal allows the conglomerate to delay its debt obligation by about four years, giving it more room to meet immediate liabilities arising out of ongoing legal battles. The company has been exchanging old FCCBs with two new series of similar bonds. The FCCBs had $110 million of principal outstanding and unpaid interest of $12.3 million. Jaypee paid 25 per cent of the principal outstanding ($27 million) upfront. For the remaining, it issued two separate series of bonds maturing in September 2020 and 2021.