IL&FS Transportation Networks subsidiary refinances Rs 1,730 crore debt via non convertible debentures
IL&FS Transportation Networks Ltd On Monday Said Its Arm Jharkhand Road Projects Implementation Company Ltd Has Re-financed Rs 1,730 Crore Debt Via Issuance Of Non-convertible Debentures (NCDs).
News Nation Bureau New Delhi Updated on: 08 May 2017, 11:35 AM
IL&FS Transportation Networks Ltd on Monday said its arm Jharkhand Road Projects Implementation Company Ltd has re-financed Rs 1,730 crore debt via issuance of non-convertible debentures (NCDs).
"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," IL&FS Transportation Networks said in a BSE filing.
The company added that the NCDs carry a weighted average coupon rate of 9.45 per cent per annum resulting in reduction of its interest cost by approximately 205 basis points.
For all the Latest Business News, Companies & Commodities News, Download News Nation Android and iOS Mobile Apps.
First Published : 08 May 2017, 11:29 AM
More from Business
Take Control Of Your Financial Goals: Apply For A Personal Loan Now
Nihal Dangoria: An Indian Entrepreneur Making a Bright Future For The Real Estate Industry
Data breach incident at Extramarks highlights growing cybersecurity concerns in Indian companies
How is ePayLater empowering retailers across the country
Follow your heart, but don't ignore your mind When it comes to investing