Infrastructure India increases its bridging loan

Infrastructure India increases its bridging loan

Infrastructure India (IIP) has agreed a US$2.0m increase of the existing US$26.0m unsecured bridging loan facility.

The enlargement of the bridging loan will provide the group with additional capital whilst it continues to progress its ongoing financing discussions with a third party in relation to a potential financing. The company says that negotiations have taken longer than had been anticipated but are progressing. The new funding would enable the company to repay the bridging loan and the existing US$21.5 million working capital loan provided to the company by GGIC, Ltd.,  as well as provide additional working capital and construction capital to Distribution Logistics Infrastructure Limited, a key subsidiary of the company, and provide for the group’s general working capital needs.

IIP : Infrastructure India increases its bridging loan