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Construction : Finance Update | April 2016 | Source : Infrastructure Today

L&T Infa Debt Fund to raise up to Rs.2,750 crore via bonds

With more leeway to fund projects and tax exemptions, L&T Infra Debt Fund (IDF), L&T Finance group's infrastructure refinancing arm, plans to raise up to Rs.2,750 crore through debentures. The money raised via non-convertible debentures (NCDs) will be used to fund infra projects, including those in renewable energy (wind and solar). L&T Financial services group will also inject more equity in the subsidiary to support an expanding asset base. L&T IDF's net worth was Rs.615 crore (including additional equity infusion in December 2015) and debt of Rs.775 crore. It had disbursed Rs.998 crore to eight projects till end of December 2015. CRISIL has assigned 'AAA/Stable' rating to the proposed NCDs of L&T IDF.
 
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