Infrastructure India draws down $20 million under GGIC financing

By Sarah Lizee

Olympia, Wash., June 19 – Infrastructure India plc drew down a further $20 million under its four-year 15% loan financing with IIP Bridge Facility LLC, an affiliate of GGIC, Ltd., according to a notice.

The funds drawn down will be used primarily to progress construction at subsidiary Distribution Logistics Infrastructure Pte. Ltd.’s Anekal and Palwal terminals and to meet ongoing Distribution Logistics debt service and operational overheads.

“The terminal at Nagpur has ramped up construction of the station yard and initial design and related engineering is underway at Chennai,” the company said.

Following the latest drawdown, the facility is now $55 million drawn and a further $50 million remains conditionally available to the group under the facility.

The Isle of Man-based closed-end investment company invests directly into assets in India.

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