Facility Draw Down

RNS Number : 2617W
Infrastructure India plc
16 April 2019
 

16 April 2019

 

Infrastructure India plc

("IIP", the "Company and together with its subsidiaries the "Group")

 

Facility Draw Down

 

Infrastructure India plc, an AIM quoted infrastructure fund investing directly into assets in India, announces that the Group has drawn down a further US$26.3 million (approximately £20.1 million) under the financing with IIP Bridge Facility LLC announced by the Company on 2 April 2019 (the "Facility").

 

The funds drawn down will be utilised to clear past operational and contractor liabilities, to meet Distribution Logistics Infrastructure Private Limited's ("DLI") ongoing debt service and operational overheads, to complete the remaining rail works at DLI's Nagpur terminal and to progress construction at DLI's Anekal and Palwal terminals.

 

Following the draw down, the Facility is now US$35 million drawn and a further US$70 million remains conditionally available to the Group under the Facility to enable DLI, the Company's wholly owned subsidiary, to complete, commission and ramp up all of its existing terminal facilities through to completion, to meet other DLI lender requirements and provide additional working capital for both DLI and the Group.

 

DLI is a supply chain transportation and container infrastructure company headquartered in Bangalore and Gurgaon with a material presence in central, northern and southern India. DLI provides a broad range of logistics services including rail freight, trucking, handling, customs clearing and bonded warehousing with terminals located in the strategic locations of Nagpur, Bangalore, Palwal (in the National Capital Region) and Chennai. DLI is the largest asset in the Company's portfolio and one of the largest privately-owned logistics businesses in India.

 

 

Enquiries:

 

Infrastructure India plc       

Sonny Lulla 

 

 

www.iiplc.com

 

 

 

 

 

Cenkos Securities plc

Nominated Adviser & Joint Broker

Azhic Basirov / Ben Jeynes

+44 (0) 20 7397 8900

 

 

 

 

Nplus1 Singer Advisory LLP

Joint Broker

James Maxwell - Corporate Finance

James Waterlow - Investment Fund Sales

 

+44 (0) 20 7496 3000

Novella

+44 (0) 20 3151 7008

Financial PR

 

Tim Robertson / Toby Andrews

 

 

 

 

 

 

 

 

 

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCGGUPWCUPBGQA
UK 100

Latest directors dealings