KKR-backed Highways Infrastructure Trust gets Rs.8,250-Cr loan from 7 banks

Mumbai-based Highways Infrastructure Trust (HIT), an infrastructure investment trust (InvIT) backed by KKR, has raised INR 8,250 crore in debt. The financing plan, structured as a rupee term loan with a tenure of 17 years, is backed by Axis Bank, HDFC Bank, ICICI Bank, India Infrastructure Finance Company, IndusInd Bank, PNB and SBI.The funds will be used to meet the financing needs of toll, operate and transfer (TOT) Bundle 16 and for completing the acquisition of a dozen road assets from PNC Infratech.