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A subsidiary of IL&FS Transportation Networks, Hazaribagh Ranchi Expressway Ltd has re-financed debts amounting to Rs 715 crore by issuing non-convertible debentures (NCDs).
IL&FS Transportation Networks Ltd has said in a BSE filing that “The Hazaribagh Ranchi Expressway Limited, a subsidiary of the company, has re-financed its debts including senior debt amounting to Rs 715 crore availed for development of section of NH -33… in the state of Jharkhand by issue of non-convertible debentures.”
It has added that the NCDs carry a weighted average coupon rate of 8.56 percent payable semi-annually resulting in savings of approximately 282 basis points in interest cost.
