Sterlite Power refinances Gurgaon Palwal Transmission project
NEW DELHI: Sterlite Power on Monday said HDFC BankNSE -0.44 % has refinanced a loan for its Gurgaon Palwal Transmission Ltd project, leading to around 300 basis points reduction in the interest cost. The project became fully operational in April 2020.
The new financing to prepay the existing project loan of Rs 800 crore has been arranged by HDFC Bank, SterliteNSE 0.04 % Power said in a statement.
The new facility has been availed at significantly favourable terms demonstrating the considerably improved risk profile of the project post achievement of CoD (Date of Commercial Operation).
