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Construction World Magazine India | IL&FS to refinance Rs 6,000 crore debt
IL&FS to refinance Rs 6,000 crore debt
Canadian investors approach developers for tie-ups in Bengaluru
Infrastructure Leasing & Financial Services (IL&FS) has reportedly planned to refinance nearly Rs 6,000 crore of their debt, which was taken for the Chenani-Nashri road tunnel project located in Jammu and Kashmir.
According to reports, the company plans to raise around Rs 15,000 crore through InvITs, green bonds and foreign loans. Refinancing of its wind energy debt will be via green bonds and the estimated proposal for the same is around $470 million.
The tunnel connecting Chenani and Nashri on the Jammu-Srinagar highway is the longest of its kind in the country, and reports indicate that the first annuity of the same will be generated by October this year. The company will begin its refinancing work after this and expects to close the same latest by January 2018.
Chenani-Nashri Road Tunnel Project
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