ADAG Group - Loan Recst

Reliance Power:

• Reliance Power announced a recast of loan for Samalkot project.
• Samalkot project successfully recasted Rs 2,430 crore (around $347 million) loan from US—Exim.
• The recast of loan comes at a low-interest rate of only 2.65%P.A.

Reliance Infrastructure :

• 16 lenders signed the Inter-Creditor Agreement (ICA).
• The Resolution Plan of Reliance Infrastructure is to be implemented within 180 days.
• Reliance Infrastructure has already announced the sale of Delhi-Agra Toll Road for an enterprise value of Rs 3,600 cr. With this single transaction, the debt of Reliance Infrastructure will reduce by over 25% to just over Rs 4,000 cr.
• Reliance Infrastructure also plans to monetise its marquee 7 lakh square feet Reliance Center in Santacruz by way of long-term lease.
• The company aims to be zero debt in 2020.