IL&FS Transportation Networks’ joint venture (JV) - Jorabat Shillong Expressway mandated for development of section of NH-40 from km 0.000 to 61.800 (approximately 61.92 Kms) in the State of Assam and Meghalaya has refinanced Senior & Subordinated debt by issue of Non-Convertible Debentures (NCDs) to the extent of Rs 883 crore at a weighted average interest cost of 8.34% p.a. as against 11.30% p.a. resulting in the savings of 2.96% 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.
IL&FS Transportation Networks is an India-based surface transportation infrastructure company. The company is a developer, operator and facilitator of surface transportation infrastructure projects, taking projects from conceptualization through commissioning to operations and maintenance under public to private partnership on build-operate-transfer (BOT) basis.
Company Name | CMP |
---|---|
Larsen & Toubro | 3686.75 |
Rail Vikas Nigam | 390.00 |
KEC International | 935.20 |
Kalpataru Projects | 1222.50 |
NCC | 328.75 |
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