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3 Sep 2012 07:00
Date: | 3 September 2012 |
On behalf of: | Infrastructure India plc ("IIP" or the "Company" or, together with its subsidiaries, the "IIP Group") |
Embargo: | 0700 hrs |
Infrastructure India plc
Repayment of Secured Loan
Infrastructure India plc, an AIM listed infrastructure fund investing directly into assets in India, announces that, on 31 August 2012, it paid approximately US$26,583,000 (approximately £16.75 million) to IIP Bridge Funding, LLC (the "Lender") in order to repay the secured loan facility (the "Loan") agreed in February 2012 (US$25,000,000), together with a redemption premium and prepayment penalty of, in aggregate, US$1,550,000 and residual interest for the five days subsequent to the last quarterly interest payment. The Company used funds from its recent £40.88 million placing to repay the Loan, as anticipated in the announcement of the Company's annual results for the year ended 31 March 2012.
Following this repayment, the Company has discharged its obligations to the Lender in full.
- Ends -
Enquiries:
Infrastructure India plc | www.iiplc.com |
Sonny Lulla |
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Smith & Williamson Corporate Finance Limited | +44 (0)20 7131 4000 |
Nominated Adviser & Joint Broker |
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Azhic Basirov / Siobhan Sergeant |
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Investec Bank plc | +44 (0)20 7597 5970 |
Financial Adviser & Joint Broker |
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Jeremy Ellis / Tim Mitchell |
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Merlin | +44 (0)20 7726 8400 |
Financial Public Relations |
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Paul Downes / Toby Bates |
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