With IDFC for Rs 363.40 crore
Ashoka Buildcon announced that one of its Project SPVs viz. Ashoka Highways (Durg) ("SPV") has completed refinancing of its debt of Rs. 363.40 crore with IDFC. After refinancing, the interest cost has been reduced to 10.75% p.a. resulting in a saving of 1.70% p.a. and extension of repayment period.Further, 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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