Debt

Debt financing

Sterlite Power refinances loan for Khargone transmission project

BusinessLine  

Sterlite Power has successfully refinanced project loan for the recently-commissioned Khargone transmission project. The new financing from Aseem Infrastructure Finance - INR 525 crore, NIIF Infrastructure Finance - INR 450 crore, and Aditya Birla Finance - INR 225 crore, will enable prepayment of the existing project loan of around INR 1,100 crore. With this transaction, Sterlite Power has achieved a reduction of almost 400 basis points in the interest cost to be incurred by the project on an annual basis, demonstrating the considerably-improved risk profile of the project post achievement of CoD (Date of Commercial Operation).