IL&FS Transportation Networks subsidiary refinances Rs 1,730 crore debt via non convertible debentures

Updated On : 08 May , 2017 , 11:35 AM
IL&FS Transportation Networks Ltd  - File photo
IL&FS Transportation Networks Ltd - File photo
New Delhi:

IL&FS Transportation Networks Ltd on Monday said its arm Jharkhand Road Projects Implementation Company Ltd has re-financed Rs 1,730 crore debt via issuance of non-convertible debentures (NCDs).

"Jharkhand Road Projects Implementation Company Ltd, a subsidiary of the company, has re-financed its debt of Rs 1,730 crore availed for development of 5 Road stretches in the state of Jharkhand by issue of non-convertible debentures," IL&FS Transportation Networks said in a BSE filing.

The company added that the NCDs carry a weighted average coupon rate of 9.45 per cent per annum resulting in reduction of its interest cost by approximately 205 basis points.

First Published : Monday, May 08, 2017 11:29 AM
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