Aurangabad Jalna Tollway completed refinancing of its debt

Aurangabad Jalna Tollway Limited (AJTL), a wholly owned subsidiary of Sadbhav Infrastructure Project Limited, has completed the refinancing of its existing debt facilities with new debt taken from other lenders with revised terms and conditions. The revised terms include reduction in the interest rate from the current level, extension of the repayment period covering most of the balance concession period and a tie-up for the first major maintenance expenses. AJTL implemented the project involving four-laning of the Aurangabad-Jalna road and the Zalta and Beed bypasses in Maharashtra on a build-operate-transfer basis. AJTL achieved a provisional commercial operation date (COD) for the project in July 2009 and the final COD on January 7, 2016.