A Rs6.1 billion 10-year term loan for Khed Economic Infrastructure has been signed via sole bookrunner SBI Capital Markets.
The facility is sponsored by Kalyani Group and Maharashtra Industrial Development Corp, and will be repaid in 28 quarterly installments after a four-month grace period.
Final allocations saw participants Axis Bank pledge Rs1.7 billion, while Bank of Baroda and Bank of Maharashtra gave Rs1.1 billion each. Canara Bank and Union Bank of India lent Rs800 million apiece, while Dena Bank rounded out the syndicate with Rs600 million.
Proceeds are to implement a multi-product Special Economic Zone SEZ in the State of Maharashtra.
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