Ashoka Buildcon provides update on project SPV - Ashoka Highways (Durg)

Ashoka Highways (Durg) issues NCDs of Rs 200 crore to IDFC Infra Debt

Ashoka Buildcon announced that one of its Project SPVs viz. Ashoka Highways (Durg) ("SPV") has issued Non-Convertible Debentures ("NCDs") of Rs. 200 crore to IDFC Infra Debt, as a part of refinancing. The NCDs will carry Coupon rate @ 9.40% per annum. The SPV has re-paid the rupee term of Rs. 200 Cr. loan carrying interest cost @ 9.90% per annum.

Post issue of NCDs, the average interest cost has been reduced to 9.62% per annum resulting in saving of interest cost @ 0.28% per annum.

Further the Company has informed that, the SPV executes the Project viz. to carry on the business of construction, operation, maintenance of End of Durg Bypass - Chattisgarh/Maharashtra Border, Section from KM 322.4 to KM 405.0 of NH - 6 in the State of Chattisgarh under NHDP Phase IIIA on Build, Operate and Transfer (BOT) basis.

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