Project completes refinancing of its debt of Rs 324 crore with ICICI Bank
Ashoka Buildcon announced that one of its Project SPVs viz. Ashoka Highways (Bhandara), which executes the Project viz. to carry on the business of construction, operation, maintenance of Chattisgarh/Maharashtra Border Wainganga Bridge Section from KM 405.000 to KM 485.000 of NH -6 in the State of Maharashtra under NHDP Phase IIIA on Build, Operate and Transfer (BOT) basis, has completed refinancing of its debt of Rs. 324 crore with ICICI Bank.After refinancing the interest cost has been reduced to 11.50% p.a. resulting in a saving of 1.50% p.a. and extension of repayment period.
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