Infrastructure India has arranged an $8.1m loan facility. The lender is Cedar Valley (an entity connected to GGIC who own more than 50% of the fund’s shares), the interest rate is 15%, there is an arrangement fee of $81,000 and the money is repayable on 30 November 2014. The loan proceeds will mostly be used to support Infrastructure India’s Vikram Logistics and Maritime Services business. The intention is that the loan will be repaid from the proceeds of any permanent financing Infrastructure India can obtain for Vikram. Failing that the money will come from a capital raising for Infrastructure India or another of its subsidiaries.
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