Sterlite Power concludes refinancing of Khargone transmission project
New Delhi, Sterlite Power has successfully concluded refinancing the Khargone transmission project which would help it to pre-pay project loan. The new financing from Aseem Infrastructure Finance Ltd (Rs 525 crore), NIIF Infrastructure Finance Ltd (Rs 450 crore) and Aditya Birla Finance Ltd (Rs 225 crore), will enable prepayment of the existing project loan of approximately Rs 1,100 crore, the company said in a statement on Monday.
With this transaction, Sterlite Power has achieved a reduction of almost 400 basis points in the interest cost to be incurred by the project on a per annum basis, demonstrating the considerably improved risk profile of the project post achievement of commercial operations.
