Sadbhav Infra arm HYTPL completes refinance existing debt

Sadbhav Infrastructure Project Ltd arm HYTPL has completed refinance of its existing debt with new debt.
Hyderabad Yadgiri Tollway Private Ltd (HYTPL) has a total outstanding debt of Rs 232 crore on March 31.
"HYTPL, wholly-owned subsidiary of the company, has completed refinancing of its existing rupee debt facilities with new debt taken from other lenders with revised terms and conditions," Sadbhav Infrastructure said in a regulatory filing.
It said new debt facilities will result in reduction in the interest rates from the current level, extension of the repayment pattern covering the majority balance concession period and issuance of non convertible debentures besides refinancing of existing ECB facilities.

"Total rupee debt outstanding as on March 31, 2016 stands at Rs 2,319.79 mn and total ECB outstanding as on March 31, 2016 stands at USD 24.30 mn. Total equity (including sub ordinate debt from promoters) as on March 31, 2016 stands at Rs 1,470.92 mn," the company said.
HYTPL achieved appointed date on July 30, 2010 to augment the existing road from Km 18.60 to Km 54.00 on the Hyderabad to Yadgiri section of NH 202 in Telangana on design, build, finance, operate and transfer system, it said.
The construction period for the 35.40 km project was 23 years.

Shares of the company were trading 0.79 per cent down at at Rs 99.90 apiece on BSE.