IL&FS Transportation arm re-finances Rs 1,730 crore debt

New Delhi: IL&FS Transportation Networks Ltd on Monday said its subsidiary Jharkhand Road Projects Implementation Company Ltd has re-financed debt of Rs 1,730 crore through issuance of non-convertible debentures (NCDs).

"Jharkhand Road Projects Implementation Company Ltd, a subsidiary of the company, has re-financed its debt of Rs 1,730 crore availed for development of 5 Road stretches in the state of Jharkhand by issue of non-convertible debentures," IL&FS Transportation Networks said in a BSE filing.

The company added that the NCDs carry a weighted average coupon rate of 9.45 percent per annum resulting in reduction of its interest cost by approximately 205 basis points.

Shares of the company were trading 1.95 percent higher at Rs 112.60 on BSE.