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(Alliance News) - Infrastructure India PLC on Thursday said it agreed an extension to the maturity date of the term loan provided by IIP Bridge Facility LLC, an affiliate of GGIC Ltd to May 1 from April 1.
The AIM-listed, India-focused infrastructure fund said the four-year term loan was agreed by its wholly owned Mauritian subsidiary Infrastructure India Holdco in April 2019, carrying an interest of 15% per year.
In August, the loan amount was increased by around USD6 million to around USD111 million. All other terms and conditions remained the same, it said.
As announced late last month, Infrastructure India is engaged in discussions with several third parties regarding the potential sale of its largest asset Distribution Logistics Infrastructure Ltd.
The extension to the maturity date of its term loan enables it to remain focused on these discussions to sell Distribution Logistics Infrastructure, Infrastructure India said.
Shares in Infrastructure India were flat at 0.30 pence each in London on Thursday morning.
By Greg Rosenvinge, Alliance News reporter
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