For refinancing of debt
IL&FS Transportation Networks announced that Jorabat Shillong Expressway, a joint venture mandated for development of section of NH-40 in the State of Assam and Meghalaya has refinanced Senior and Subordinated debt by issue of NCDs to the extent of Rs 883 crore at a weighted average interest cost of 8.34% p.a. as against 11.30% p.a. resulting in the savings of 2.96% in interest cost.The project was completed on 28 January 2016 and is entitled to received from NHAI a semi-annual annuity of Rs 72.51 crore for a period of 15 years effective 28 July 2016.
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