Infrastructure India plc Facility Draw Down (6721C)
June 19 2019 - 1:00AM
UK Regulatory
TIDMIIP TIDMTTM
RNS Number : 6721C
Infrastructure India plc
19 June 2019
19 June 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$20 million (approximately GBP16.0
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 primarily to progress
construction at Distribution Logistics Infrastructure Private
Limited's ("DLI") Anekal and Palwal terminals and to meet ongoing
DLI debt service and operational overheads. The terminal at Nagpur
has ramped up construction of the station yard and initial design
and related engineering is underway at Chennai.
Following the latest draw down, the Facility is now US$55
million drawn and a further US$50 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 www.iiplc.com
Sonny Lulla
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
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulation (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
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
MSCGGUCUQUPBGQR
(END) Dow Jones Newswires
June 19, 2019 02:00 ET (06:00 GMT)
Infrastructure India (LSE:IIP)
Historical Stock Chart
From Apr 2024 to May 2024
Infrastructure India (LSE:IIP)
Historical Stock Chart
From May 2023 to May 2024