Sanction of Term Loan & Underwriting by Punjab National Bank

Updated on: Jul 11, 2012

Atlanta Ltd has informed BSE that the Company has received the sanction of term loan and underwriting by Punjab National Bank for its Special Purpose Vehicle (SPV) Company viz. Lucknow Varanasi Tollways Private Limited. The BOT project entail the SPV Company to carry out the work of four laning of Lucknow -Sultanpur section of NH-56 from Km 11.500 to Km 134.700 in the State of Utter Pradesh under NHDP Phase IVA through Public Private Partnership (PPP) on Design, Build, Finance, Operate and Transfer (DBFOT) on Toll Basis. The total cost of the project is Rs.1395.54 crores. Punjab National Bank has agreed to underwrite the term loan for an amount of Rs. 976.88 crores for the said project and the balance amount to be in the form of Equity. Thus the entire funding requirement for the Project has been secured. Atlanta Limited along with its subsidiary is holding 49% stake in the SPV Company.

Source : BSE - >www.bseindia.com

Published on July 11, 2012

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