IIFCL to raise $250 mn from overseas market

IIFCL to raise $250 mn from overseas market
PTI
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First Published: Fri, Mar 13 2009. 01 56 PM IST
Updated: Fri, Mar 13 2009. 01 56 PM IST
New Delhi: State-owned India Infrastructure Financing Company Ltd (IIFCL) today said it will raise $250 million (about Rs1,250 crore) from overseas market for funding seven projects, including Reliance Power Sasan power project and Tata Power’s Mundra power project.
“We will be raising $250 million for seven projects for which agreement will be signed in a day or two. These seven projects include two metro projects -- Delhi and Mumbai -- and five power projects, including Sasan and Mundra Ultra Mega Power Project,” IIFCL Chairman and Managing Director S S Kohli told reporters here at a CII function.
He said India Infrastructure Finance Company Ltd (IIFCL) has so far raised Rs9,800 crore through bonds for various infrastructure projects, and the projects will get the funds at a rate of 10.35% by the banks.
Kohli said the IIFCL has raised the amount at an interest rate of 6.85% which will be given to banks at 7.85%.
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First Published: Fri, Mar 13 2009. 01 56 PM IST