L&T Infra Debt to raise Rs 2,500 cr to refinance projects

The company's portfolio comprises projects with an average of four years of satisfactory operations

With refinancing of infrastructure projects gathering steam, L&T Infra Debt Fund (L&T IDF), a refinancing unit, is raising about Rs 2,500 crore through debentures to provide liquidity for road and renewable energy projects.

As on September 30, 2016, its net worth was Rs 660 crore (excluding preference shares), debt was Rs 2,455 crore, and outstanding loan book was Rs 2,942 crore (for 25 projects). 

The company's overall capital adequacy ratio stood at 45.87 per cent as on September 30, 2016.

Rating agency CRISIL has assigned "AAA" rating for the proposed bond offering, giving refinance support to operational projects like roads, power, renewable energy,