4th Feb 2019 18:10
LONDON (Alliance News) - Infrastructure India PLC said on Monday it has requested, but has not yet been granted, some loan extensions.
This comes after the investor at the end of January said its USD125 million proposed financing agreement with PSA International and Gateway Partners will not go ahead. The proposed financing was conditional on receiving approval from Indian regulatory authorities but the deadline, January 30, lapsed without approval.
Infrastructure India is looking to get the date of maturity of a USD53.4 million bridging loan and USD21.5 million working capital loan extended.
The bridging loan was due to be repaid on the earlier of 15 days following completion of the proposed financing, or Monday. The working capital loan was due to repayment on Monday.
Shares in Infrastructure India closed 5.9% higher at 1.8 pence on Monday.
Related Shares:
IIP.L