Highways Infrastructure Trust (HIT), an infrastructure investment trust backed by KKR has raised Rs 82.5 billion in debt financing from a group of private and public sector lenders, including Axis Bank, HDFC Bank, ICICI Bank, and IndusInd Bank, as well as State Bank of India, Punjab National Bank, and India Infrastructure Finance Company Limited (IIFCL).
This funding is one of the biggest loan agreements made by an Indian InvIT. The debt financing is set up as a rupee-term loan for a tenor of 17 years. The funds will be utilised for meeting the financing needs for the acquisition of a portfolio of 12 road assets from PNC Infratech. Additionally, the trust is in the process of acquiring TOT-16 for an estimated value of Rs 66.61 billion.