Sadbhav Infrastructure Project’s wholly owned subsidiary -- Hyderabad Yadgiri Tollway (HYTPL) -- has completed refinancing of its existing rupee debt facilities with new debt taken from other lenders with revised terms and conditions.
Salient features of the new debt facilities apart from normal terms and conditions are reduction in the interest rates from the current level; extension of the repayment pattern covering the majority balance concession period (including extension due to Article 29 of the Concession Agreement) ; tie-up for the first major maintenance expenses (subject to NHAI approval); issuance of Non-convertible debentures/bonds to Infrastructure Debt Funds (IDF) (post signing of tripartite agreement); and refinancing of existing ECB facilities (post RBI approval).
Sadbhav Infrastructure Project is one of the leading road BOT companies in India that specializes in the development, operation and maintenance of highways, roads and related projects. The company, a subsidiary of Sadbhav Engineering (SEL), was incorporated in 2007 as a developer and operator for highways, road and related projects on a BOT basis.
