Bajaj Auto secures €566M loan for KTM, helping avert motorcycle maker's insolvency.

Bajaj Auto, co-owner of Austrian motorcycle maker KTM AG, secured a €566 million one-year loan from major banks, just before a funding deadline for KTM's insolvency plan. KTM filed for insolvency last year due to financial struggles from the pandemic, leading to excess inventory and rising costs. Creditors agreed to a 70% debt reduction, and KTM must deposit €544 million by May 23 to pay a 30% quota to creditors.