NIIF Infrastructure Finance Limited has extended a term loan facility aggregating to ₹1,200 crore ($126.7 million) to Vijayapura Tollway Private Limited, a special purpose vehicle of IJM Corporation Berhad.
JSA Advocates & Solicitors has advised NIIF Infrastructure Finance on this financing transaction.
The transaction team was led by Nand Gopal Anand (Partner), with support from Harshit Dusad (Partner) and Vrindesh Patel (Principal Associate).
Vijaypura Tollway is engaged in the design, engineering, procurement, construction, operation and maintenance of the Solapur–Bijapur stretch of National Highway-13 (renumbered as NH-52), spanning from kilometer 0.00 to kilometer 110.542 (with a design length of approximately 109.08 kilometers), traversing the states of Maharashtra and Karnataka.
The project has been implemented on a public-private partnership basis and is currently in the operational phase, with the Company responsible for toll collection and ongoing maintenance of the highway. The term loan facility has been extended for the primary purpose of refinancing the existing project finance facilities availed by the borrower, with a view to optimizing the capital structure, reducing financing costs, and improving overall cash flow efficiency.
If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.