IL&FS Transportation Networks Ltd has refinanced the term loan outstanding in Andhra Pradesh Expressway Ltd (APEL) a Special Purpose Vehicle formed for Design, Construction, Development, Finance, Operation and Maintenance of existing 2 lane portion from km 135.469 (End of proposed Kotakatta Bypass) to km 211.000 (Kumool), covering 74,651 kilometers, on National Highway No.7 (NH-7) in the State of Andhra Pradesh, to 4 lanes through a Concession on Build, Operate and Transfer (BOT) Annuity basis. The project has been commissioned and APEL is currently operating and maintaining the road.
The term loans have been refinanced through issuance of seven series of Rated, Listed, Secured, Redeemable, Non-Convertible Debentures (NCDs) aggregating to Rs. 530 Crores. All these series mature within a period of 13 years with varying maturities and carry a YTM of 10% per annxim. These NCDs have been listed on the Wholesale Debt Segment of the National Stock Exchange.
The IL&FS Transportation Networks Ltd stock closed the day at Rs.186.75, down by Rs.1.80 or 0.95%. The stock hit an intraday high of Rs.193 and low of Rs.185.10.
The total traded quantity was 0.14 lakhs compared to 2 week average of 0.14 lakhs.