JSA Advocates & Solicitors (JSA) has advised NIIF Infrastructure Finance Limited in connection with the extension of a term loan facility aggregating to INR 1,200 crores (USD 126.7 million) to Vijayapura Tollway Private Limited, a special purpose vehicle of IJM Corporation Berhad.
The borrower is engaged in the design, engineering, procurement, construction, operation and maintenance of the Solapur–Bijapur stretch of National Highway-13 (renumbered as NH-52), spanning from kilometer 0.00 to kilometer 110.542 (with a design length of approximately 109.08 kilometers), traversing the states of Maharashtra and Karnataka.
The project has been implemented on a public-private partnership basis and is currently in the operational phase, with the borrower responsible for toll collection and ongoing maintenance of the highway. The term loan facility has been extended for the primary purpose of refinancing the existing project finance facilities availed by the borrower, with a view to optimizing the capital structure, reducing financing costs, and improving overall cash flow efficiency.
The JSA team was led by Nand Gopal Anand, Partner, with support from Harshit Dusad, Partner, and Vrindesh Patel, Principal Associate.
Nand is a Partner in the Gurugram office of the firm. He specialises in Banking & Finance, with specific focus on general lending, external commercial borrowings, overseas direct investments, project finance, trade finance, shipping finance and real estate finance related transactions.