Mumbai Metro One completes refinancing of project borrowings of Rs 1650 crore
Reliance Infrastructure announced that its subsidiary, Mumbai Metro One, has completed the refinancing of project borrowings of Rs 1650 crore, achieving substantial benefits through extension of maturity and reduction of interest cost.With this refinancing, the final payment of Rs 1650 crore on the loans has been extended to the year 2037, almost 22 years from date, thereby enhancing financial flexibility of the Company.
The interest rate stands reduced from 13% to 11.75% per annum. The average maturity of the loans has now almost doubled to 14 years.
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