IRFC Signs JPY-Equivalent USD 400 Mn ECB With SMBC And MUFG

04 Mar 2026 CW Team

The facility agreement, executed on 25 February 2026, covers an aggregated amount of the JPY-equivalent USD 400 mn and is unsecured. The loan is structured for a five-year tenor and is benchmarked to the Tokyo Overnight Average Rate (TONAR). The aggregate amount under the facility corresponds to the total amount outstanding upon drawdown. Lenders named in the agreement are SMBC, Gift City Branch, and MUFG, Gift City Branch, while IRFC is the borrower.

The proceeds from the ECB will be utilised for financing projects that have forward or backward linkage with the railway sector or for other projects as may be approved by the company in compliance with ECB guidelines. The disclosure annex sets out the terms, confirms that no security is being provided and indicates that there is no related party involvement. The agreement records that the lending is on an arm’s length basis and that there is no shareholding arrangement with the lenders. IRFC indicated that the facility will support financing needs linked to the expansion and modernisation of railway infrastructure.

IRFC said senior management praised the efforts of the ECB team led by the executive director for finance and acknowledged support from other officers. The company expects the transaction to optimise its weighted average borrowing cost, deepen engagement with global capital markets and reinforce investor confidence in its financial profile.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Indian Railway Finance Corporation (IRFC) has signed a loan agreement with a consortium comprising Sumitomo Mitsui Banking Corporation (SMBC), Gift City Branch, and MUFG Bank Ltd (MUFG), Gift City Branch, in New Delhi on 25 February 2026 to raise External Commercial Borrowings (ECBs) equivalent to JPY-denominated USD 400 mn. This represents the second ECB secured by IRFC in the financial year after a December 2025 facility equivalent to JPY-denominated USD 300 mn. The company filed the requisite disclosure under Regulation 30 of the SEBI Listing Regulations and submitted the details to the stock exchanges. The facility agreement, executed on 25 February 2026, covers an aggregated amount of the JPY-equivalent USD 400 mn and is unsecured. The loan is structured for a five-year tenor and is benchmarked to the Tokyo Overnight Average Rate (TONAR). The aggregate amount under the facility corresponds to the total amount outstanding upon drawdown. Lenders named in the agreement are SMBC, Gift City Branch, and MUFG, Gift City Branch, while IRFC is the borrower. The proceeds from the ECB will be utilised for financing projects that have forward or backward linkage with the railway sector or for other projects as may be approved by the company in compliance with ECB guidelines. The disclosure annex sets out the terms, confirms that no security is being provided and indicates that there is no related party involvement. The agreement records that the lending is on an arm’s length basis and that there is no shareholding arrangement with the lenders. IRFC indicated that the facility will support financing needs linked to the expansion and modernisation of railway infrastructure. IRFC said senior management praised the efforts of the ECB team led by the executive director for finance and acknowledged support from other officers. The company expects the transaction to optimise its weighted average borrowing cost, deepen engagement with global capital markets and reinforce investor confidence in its financial profile.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Infrastructure Transport

06 Jul 2026

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Infrastructure Transport

06 Jul 2026

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..