16th Apr 2019 12:01
LONDON (Alliance News) - Infrastructure India PLC on Tuesday said it has drawn down further USD26.3 million under a loan facility with IIP Bridge Facility LLC.
Following the draw down, the facility is now USD35 million, while further USD70 million remains conditionally available to the company.
The funds drawn down will be used to clear past operational and contractor liabilities, to meet Distribution Logistics Infrastructure Private Ltd's ongoing debt service and operational overheads and further work.
Distribution Logistics Infrastructure is a supply chain transportation and container infrastructure company, and the biggest asset in Infrastructure India's portfolio.
Infrastructure India shares were untraded at 2.85 pence each.
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IIP.L