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IL&FS Transportation to issue Rs 2,000-cr masala bonds

The proceeds of the issue will be primarily used to repay high interest bearing short-term debt

Press Trust of India  |  New Delhi 

IL&FS, IL&FS Transportation Networks
IL&FS Transportation Networks

IL&FS Transportation Networks, part of the IL&FS Group, today said its board has given nod for issuance of worth up to Rs 2,000 crore besides USD-denominated bonds of up to USD 500 million. "We wish to inform that at the meeting of the board of directors held today, an in-principle approval was granted for issuance of ...up to Rs 2,000 crore" and "rated secured USD denominated bonds upto USD 500 million," IL&FS Transportation said in a regulatory filing to the BSE. The proceeds of the issue will be primarily used to repay high interest bearing short-term debt by a security with a lower interest cost having long-term maturity, it said. IL&FS Transportation in 2016 had raised USD 50 million through a maiden sale to the (EDC).

First Published: Fri, January 19 2018. 01:12 IST
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