{"id":324122,"date":"2020-01-27T11:16:52","date_gmt":"2020-01-27T05:46:52","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=324122"},"modified":"2020-01-27T11:16:52","modified_gmt":"2020-01-27T05:46:52","slug":"first-of-its-kind-road-deal-may-free-4-5-billion-stressed-projects","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/first-of-its-kind-road-deal-may-free-4-5-billion-stressed-projects\/","title":{"rendered":"First-of-its-kind road deal may free $4.5-billion stressed projects"},"content":{"rendered":"<p>Cube Highways &amp; Infrastructure is weeks away from buying a road asset of a bankrupt company, a first-of-its kind purchase that could free up about $4.5 billion worth of stressed projects.<\/p>\n<p>The Singapore-based firm \u2014 backed by investors including the World Bank\u2019s financial arm, Abu Dhabi Investment Authority and I Squared Capital \u2014 is using a novel method called \u2018substitution,\u2019 where lenders to insolvent Lanco Infratech are directly transferring Lanco\u2019s road assets to Cube, without routing ownership through the state-run National Highways Authority of India.<\/p>\n<p>Lanco is in bankruptcy court and unable to service its debt. \u201cAll lenders have agreed and the formal handover will likely take place in the next three-four weeks,\u201d Gautam Bhandari, managing partner at I Squared Capital, said in a phone interview on Thursday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cube Highways &amp; Infrastructure is weeks away from buying a road asset of a bankrupt company, a first-of-its kind purchase that could free up about $4.5 billion worth of stressed projects. The Singapore-based firm \u2014 backed by investors including the World Bank\u2019s financial arm, Abu Dhabi Investment Authority and I Squared Capital \u2014 is using a novel method called \u2018substitution,\u2019 where lenders to insolvent Lanco Infratech are directly transferring Lanco\u2019s road assets to Cube, without routing ownership through the state-run National Highways Authority of India. Lanco is in bankruptcy court and unable to service its debt. \u201cAll lenders have agreed [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,168],"tags":[],"class_list":["post-324122","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-roads-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/324122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=324122"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/324122\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=324122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=324122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=324122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}