IL&FS Transportation Networks Ltd‘s subsidiary Jharkhand Road Projects Implementation Company Ltd has re-financed debt of Rs 1,730 crore by issuing non-convertible debentures (NCDs).

IL&FS Transportation Networks has said in a BSE filing that “Jharkhand Road Projects Implementation Company Ltd, a subsidiary of the company, has re-financed its debt of Rs 1,730 crore availed for development of 5 Road stretches in the state of Jharkhand by issue of non-convertible debentures.”

The company further said that the NCDs carry a weighted average coupon rate of 9.45 percent per annum resulting in reduction of its interest cost by approximately 205 basis points.

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