LT Ahmedabad Maliya Tollway has secured a Rs12.5 billion 13-year term loan through joint bookrunners Axis Bank, Bank of India and Kotak Mahindra Bank.
Sponsored by LT Infrastructure Development Projects, the facility will be repaid in 46 quarterly installments. The transaction is split into a Rs12 billion tranche and a Rs500 million portion.
Syndication saw Central Bank of India, Corporation Bank, Dena Bank, South Indian Bank, Union Bank of India and Vijaya Bank come in as participants.
Proceeds are to refinance a Rs12.5 billion loan signed in October 2009 for the expansion of a highway.