26th Sep 2018 13:41
LONDON (Alliance News) - Infrastructure India PLC said Wednesday that it secured a USD2.0 million increase to its existing USD43.4 million unsecured bridging loan facility provided by Cedar Valley Financial.
The infrastructure fund focused on India said the increased loan will provide additional capital ahead of completion the conditional proposed financing with PSA International and Gateway Partners as announced in July.
The financing with PSA International and Gateway Partners will enable the company to repay the Cedar Valley, in whole or in part, as well as provide additional working capital and construction capital to Distribution Logistics Infrastructure Ltd, a subsidiary of the company, and provide for general working capital needs.
Shares in Infrastructure India were trading 2.9% lower at 2.86 pence each on Wednesday afternoon.
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