IRB Infrastructure Developers Ltd approves issue of $540 Mn Senior Secured Notes

The Management Administration and Share Transfer ("MAS") Committee meeting of the Board of Directors of IRB Infrastructure Developers Limited has approved issuance of the Reg S / Rule 144A US$ 540 Million 7.11% Senior Secured Notes having a weighted average life of 7.25 years with the final maturity in 2032.

The Company has priced Reg S / Rule 144A U.S.$ 540 Million 7.11% senior, secured US$-denominated Notes to be issued to eligible investors in accordance with the FEMA ECB Guidelines and other applicable law. Subject to such law, the Issuer intends to use the net proceeds of this offering for repayment of existing rupees denominated indebtedness which was availed for capital expenditure.

The Notes will be listed on the India International Exchange (IFSC) Limited (India INX).

Source : Equity Bulls

Keywords

IRBInfrastructureDevelopers FundRaising SeniorSecuredNotes