Tata Realty Secures Rs 8.25 Bn from IFC to Refinance Chennai IT Park

10 Jul 2024 CW Team

Tata Realty and Infrastructure Limited (TRIL) has secured a substantial loan of Rs 8.25 billion from the International Finance Corporation (IFC) to refinance an IT park project in Chennai. This financing aims to support TRIL's ongoing efforts in developing and enhancing infrastructure projects, particularly in the commercial real estate sector.

The loan from IFC, under its Sustainable Development Bond program, will be utilised to refinance existing debt and further develop the IT park, ensuring sustainability and promoting green building initiatives. The IT park is strategically located in Chennai, a key hub for IT and commercial activities, catering to the growing demand for modern office spaces.

TRIL, a subsidiary of Tata Sons Private Limited, has a strong track record in developing sustainable and environmentally responsible projects across India. The refinancing initiative underscores TRIL's commitment to enhancing infrastructure quality and promoting economic growth through innovative financing solutions.

IFC's support not only reinforces TRIL's financial stability but also aligns with global standards for sustainable development and responsible investing in the real estate sector. The refinancing will enable TRIL to optimise project costs, improve operational efficiencies, and continue delivering high-quality infrastructure solutions in alignment with environmental, social, and governance (ESG) principles.

The transaction highlights the collaboration between TRIL and IFC in promoting sustainable infrastructure development, supporting economic growth, and meeting the evolving needs of commercial real estate in Chennai's dynamic market.

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