IL&FS will use the rupee financing from EDC for its roads business, IL&FS Transportation Networks Ltd (ITNL). Photo: ReutersMumbai: Infrastructure Leasing and Financial Services (IL&FS) Ltd has raised a Rs340 crore rupee-denominated loan, or masala loan, from international financial institution Export Development Canada (EDC). IL&FS will use the rupee financing from EDC for its roads business, IL&FS Transportation Networks Ltd (ITNL). “We are using these funds for refinancing the existing debt of some of our infrastructure projects, as well as to support fresh infrastructure projects. InvITs are trusts that manage income-generating infrastructure assets, typically offering investors regular yields and a liquid method of investing in infrastructure projects.

Source: Mint November 17, 2016 18:36 UTC