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IRB Infrastructure Trust completes refinancing exercise for its 5 BOT assets for ~₹6,400cr

Nov 1, 2023

By: BlinkX Research Team

IRB Infrastructure Developers Ltd sponsored IRB Infrastructure Trust (the Private InvIT) has successfully completed the major refinancing exercise for its five BOT Assets amounting to a total of ~₹6,400cr.

The re-financing will benefit as follows: 

• Will ensure lower interest rates 
• Back ended debt amortization 
• Will strengthen the free Cash-flows and regular distribution to the Unitholders

Commenting on the development, Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd., said, “We are very pleased to inform that 5 of the operational BOT Assets under our Private InvIT have successfully completed re-financing exercise with debt moving to InvIT level. 

This will not only bring down our interest cost, reduce the amortization in initial years, but also improve tax efficiency of the portfolio. The surplus available for distribution from private InvIT will thus improve significantly, which will further facilitate tapping of upcoming opportunities in the sector.” 

He added, “We express our sincere gratitude towards all stakeholders for extending their wholehearted support and cooperation during the entire exercise.”