IL&FS Transportation Networks refinance term loan outstanding in APEL

16 Nov 2012

IL&FS Transportation Networks has refinanced the term loan outstanding in Andhra Pradesh Expressway (APEL) a special purpose vehicle (SPV) formed for design, construction, development, finance, operation and maintenance of existing 2 lane portion from km 135.469, end of proposed Kotakatta Bypass to km 211.000, Kumool, covering 74,651 kilometers, on National Highway No 7 (NH-7) in the State of Andhra Pradesh, to 4 lanes through a concession on build, operate and transfer (BOT) annuity basis. The project has been commissioned and APEL is currently operating and maintaining the road.

The term loans have been refinanced through issuance of seven series of Rated, Listed, Secured, Redeemable, Non-Convertible Debentures (NCDs) aggregating to Rs 530 crore. All these series mature within a period of 13 years with varying maturities and carry YTM of 10% per annum. These NCDs have been listed on the wholesale debt segment of the National Stock Exchange.

IL&FS Transportation Networks has been involved in the development, operation and maintenance of national and state highways, roads (including urban roads), flyovers and bridges in Andhra Pradesh, Delhi, Gujarat, Maharashtra, Karnataka, Uttar Pradesh, Kerala, Jharkhand and Rajasthan.

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