IL&FS Transportation Networks' subsidiary Hazaribagh Ranchi Expressway Ltd has re-financed debts amounting to Rs 715 crore through issuance of non-convertible debentures (NCDs).
“The Hazaribagh Ranchi Expressway Ltd, a subsidiary of the company, has re-financed its debts, including senior debt, amounting to Rs 715 crore availed for development of section of NH-33... in the state of Jharkhand by issue of non- convertible debentures,” IL&FS Transportation Networks Ltd said in a BSE filing.
The company added that the NCDs carry a weighted average coupon rate of 8.56 per cent payable semi-annually resulting in savings of approximately 282 basis points in interest cost.
The project was completed on January 27, 2013 and receives from NHAI a semi-annual annuity of Rs 64.08 crore for a period of 15.5 years effective September 15, 2012.
Shares of IL&FS Transportation Networks Ltd were trading 1.06 per cent lower at Rs 102.60 on the BSE.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.