New Issue: India’s Ashoka issues Rs. 2 billion of 9.4% nonconvertibles to IDFC Infra Debt

By Tali Rackner

Norfolk, Va., Nov. 17 – Ashoka Buildcon Ltd. informed the Bombay Stock Exchange that one of its project special-purpose vehicles issued Rs. 2 billion of 9.4% nonconvertible debentures to IDFC Infra Debt Ltd.

Ashoka Highways (Durg) Ltd. issued the debt as part of a refinancing in which it repaid a Rs. 2 billion term loan at a cost of 9.9% per annum.

Following the issue, the average interest cost was reduced to 9.62%, resulting in interest cost savings of 0.28% per annum.

Ashoka Buildcon is an infrastructure development company based in Nashik, India.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.