Infrastructure India plc Loan Restructuring (3891D)
29 Junio 2021 - 1:00AM
UK Regulatory
TIDMIIP TIDMTTM
RNS Number : 3891D
Infrastructure India plc
29 June 2021
29 June 2021
Infrastructure India plc
("IIP" or the "Company" or, together with its subsidiaries, the
"IIP Group")
DLI Update - Restructuring of Loans
Infrastructure India plc, an AIM quoted infrastructure fund
investing directly into assets in India, is pleased to announce
that, on 28 June 2021, Distribution Logistics Infrastructure
Limited ("DLI" ) entered into agreements for revised terms
(collectively, the "Agreement") with the lending banks which make
up its two lending consortia.
The Agreement provides a moratorium on interest payments until
April 2022 and principal payments until November 2022 and reduces
the overall combined interest rate to a range between 9.45 per
cent. and 10 per cent. (previously more than 12 per cent.) and
extends tenor. The final repayment is now scheduled in 2033 -
providing a three year extension over the previous final payment
date in 2030. The aggregate amount of the facility is INR 7,389
million (approximately GBP71.5 million).
Some of the lending consortia also provide DLI with a working
capital facility of INR 209 million (approximately GBP2 million)
over a rolling 6-month period. The working capital facility carries
an interest rate of 10.45 per cent. (previously more than 11 per
cent.).
The improved borrowing terms available to DLI under the
Agreement, will provide DLI with additional flexibility in
responding to the Covid-19 pandemic and its unprecedented and
continued impact on the social and economic landscape in India.
Enquiries:
Infrastructure India plc www.iiplc.com
Sonny Lulla Via Novella
Strand Hanson Limited
Nominated Adviser
James Spinney / James Dance +44 (0) 20 7409 3494
Nplus1 Singer Advisory LLP
Joint Broker
James Maxwell - Corporate Finance
James Waterlow - Investment Fund Sales +44 (0) 20 7496 3000
Novella
Financial PR
Tim Robertson / Fergus Young +44 (0) 20 3151 7008
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END
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