Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Jas Infrastructure Said to Plan to Sign Loan by End of December

Oct. 20 (Bloomberg) -- Jas Infrastructure & Power Ltd. expects to close a project finance facility for 60 billion rupees ($1.2 billion) by the end of the year after attracting about nine lenders, in addition to the three banks hired to arrange the loan, in syndication, according to a person familiar with the matter.

Jas Infrastructure hired Axis Bank Ltd., Punjab National Bank and Uco Bank in April to help arrange the 14-year, floating-rate loan, proceeds of which will be used to build a 1,320 megawatt coal-based thermal power plant in the eastern Indian state of Bihar, the person said, asking not to be identified as details are private.

About 90 percent of the funds have been committed and Axis expects another two to three lenders to join the bank group before the loan is signed, the person said. The power plant is expected to be complete by December 2014, the person said.

Link to Company News:{AXSB IN <Equity> CN <GO>} Link to Company News:{PNB IN <Equity> CN <GO>} Link to Company News:{UCO IN <Equity> CN <GO>}

To contact the editor responsible for this story: Katrina Nicholas at knicholas2@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.