27th Jun 2023 13:30
Infrastructure India PLC - India-focused infrastructure fund - Announces that it has agreed to an extension to the maturity dates of all its debt facilities. These debt facilities include the term loan by IIP Bridge Facility LLC, originally announced in April 2019, carrying an interest rate of 15% per year, which has interest accrued of approximately USD76 million; the working capital loan provided by GGIC Ltd which has interest accrued of approximately USD25 million and an interest rate of 15% per year, and was originally announced in April 2013; and finally the unsecured bridging loan originally provided in June 2017 by Cedar Valley Financial with an interest rate of 12% per year and interest accrued of approximately USD52 million.
All three loans have been extended to July 31 from their original maturity date of June 30.
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By Will Neill, Alliance News reporter
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