KKR-backed Highways Infrastructure Trust gets ₹8,250-cr loan

Mumbai: Highways Infrastructure Trust (HIT), an infrastructure investment trust backed by KKR, said it has raised ₹8,250 crore in debt. The financing plan, structured as a rupee term loan with a tenure of up to 17 years, is backed by seven leading financial institutions-Axis Bank, HDFC Bank, ICICI Bank, India Infrastructure Finance Company, IndusInd Bank, PNB and SBI.

The funds will be utilised for meeting financing needs of toll, operate and transfer (TOT) Bundle 16 and completing the acquisition of a dozen road assets from PNC Infratech, according to the company. Last September, HIT placed a winning bid for TOT Bundle 16 covering a 251-km stretch on the Hyderabad-Nagpur corridor of NH-44 in Telangana.