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IL&FS Transportation arm re-finances Rs 883 cr debt via NCDs

The company added that the NCDs carry a weighted average coupon rate of 8.34%

Press Trust of India  |  New Delhi 

IL&FS, IL&FS Transportation Networks
IL&FS Transportation Networks

Transportation Networks on Friday said its joint venture firm, Ltd, has re-financed debts amounting to Rs 883 crore through issuance of (NCDs).

"Ltd, a joint venture mandated for development of a section of NH-40 from 0.00 km to 61.80 km in and has re-financed senior and subordinated debt by the issue of to the extent of Rs 883 crore," Transportation Networks Ltd said in a filing.

The company added that the carry a weighted average coupon rate of 8.34 per cent as against 11.30 per annual resulting in savings of approximately 2.96 per cent in interest cost.

The project was completed on January 28, 2016, and is entitled to receive from NHAI a semi-annual annuity of Rs 72.51 crore for a period of 15 years effective July 28, 2016.

Shares of Transportation Networks Ltd were trading 1.06 per cent lower at Rs 102.60 on

First Published: Fri, December 29 2017. 14:16 IST