Rinfra - News & Media - RInfra Media Release
Reliance Infrastructure Limited
Corporate Office:
3rd Floor, North Wing Tel: +91 22 3303 1000
Reliance Centre Fax: +91 22 3303 3664
Santa Cruz (East) www.rinfra.com Mumbai 400 055
CIN : L75100MH1929PLC001530
Tel: +91 22 3303 1000
Reliance Centre Fax: +91 22 3303 3664
Santa Cruz (East) www.rinfra.com
MEDIA RELEASE
RELIANCE INFRASTRUCTURE INTER-CREDITOR AGREEMENT (ICA) SIGNED AMONGST ITS 16 LENDERS
AS PER RBI CIRCULAR OF JUNE 7, 2019, 100% OF THE LENDERS HAVE SIGNED ICA
RELIANCE INFRASTRUCTURE ACHIEVES STANDSTILL FOR 180 DAYS AS PER ICA
RELIANCE INFRASTRUCTURE TO IMPLEMENT ITS RESOLUTION PLAN WELL BEFORE 180 DAYS PERIOD BY MONETISING ASSETS
RELIANCE INFRASTRUCTURE HAS ALREADY ANNOUNCED SALE OF DELHI-AGRA TOLL ROAD FOR ENTERPRISE VALUE OF Rs. 3,600 CRORE
RELIANCE INFRASTRUCTURE PLANS TO MONETISE ITS 7 LAKH SQ FT RELIANCE CENTER IN SANTA CRUZ BY WAY OF LONG-TERM LEASE
COMPANY AIMS TO BE DEBT FREE IN 2020
Mumbai, July 11, 2019: Reliance Infrastructure Ltd.’s 16 lenders have signed the Inter-Creditor Agreement (ICA). As per the RBI Circular of June 7, 2019, 100% of its lenders have signed the ICA for the resolution of Reliance Infrastructure’s debt.
Reliance Infrastructure has now achieved standstill for 180 days as per the ICA. According to the RBI Circular, the Resolution Plan of Reliance Infrastructure is to be implemented within 180 days. Reliance Infrastructure is confident of implementing its Resolution Plan well before the 180-days deadline based on advanced progress of its various asset monentisation initiatives.
As per the RBI framework, Resolution Plan has to be agreed to by 75% of the Lenders by value of debt and 60% by number of Lenders.
Reliance Infrastructure has already announced the sale of Delhi-Agra Toll Road for Enterprise Value of Rs 3,600 crore. With this single transaction, debt of Reliance Infrastructure will reduce by over 25% to just over ¿ 4,000 crore.
Reliance Infrastructure also plans to monetise its marquee 7 Lakh Sq. Ft. Reliance Center in Santacruz by way of long-term lease.
The Company aims to be zero debt in 2020.
Reliance Infrastructure Limited
http://www.rinfra.com
Reliance Infrastructure Ltd is one of the largest infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors such as Power, Roads and Metro Rail in the Infrastructure space and the Defence sector.
Reliance Infrastructure Ltd is a major player in providing Engineering and Construction (E&C) services for developing power, infrastructure, metro and road projects.
Reliance Infrastructure Ltd through its SPVs has executed a portfolio of infrastructure projects such as a metro rail project in Mumbai on build, own, operate and transfer (BOOT) basis; and eleven road projects with total length of about 1,000 kms on build, operate and transfer (BOT) basis.
Reliance Infrastructure Ltd is also a leading utility company having presence across the value chain of power businesses i.e. Generation, Transmission and Distribution.
Registered Office: H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai 400 710
https://twitter.com/rinfraofficial https://www.facebook.com/relianceinfrastructure/
For further information, please contact:
Braj Kishore
8080140045
Braj.Kishore@relianceada.com