Original disclosure @ IFC website
Updated in EWS May 13, 2020
Disclosed by Bank Feb 27, 2020
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According to bank website, "IFC has provided financing to Oriental InfraTrust (the “InvIT”), an investment vehicle that has acquired 5 operating road assets developed by Oriental Structural Engineers (“OSE”). The transaction involves IFC investment of up to INR 6,825 million including up to 14 years tenor debt of up to INR 4,875 million and investment of up to INR 1,950 million in the units of the InvIT (the “Project”)."
All these road assets have been developed and are being operated by separate special purpose vehicles (SPVs) which are subsidiaries of Oriental. These road assets were bid out by the National Highways Authority of India (NHAI), the concessioning authority, on competitive bidding basis.
Loan US$ 72.25 million
Equity US$ 28.9 million
IFC is considering providing a senior loan and an investment in the units of the proposed Infrastructure Investment Trust (InvIT) of Oriental Structural Engineers Limited (OSEL or the Sponsor) and its wholly owned subsidiary, Oriental Tollways Private Limited (jointly referred to as Oriental or the Company) in India.
Oriental is one of the leading road operating companies in India having thirteen highway concession projects (nine operating and four under construction hybrid annuity model projects). All these road assets have been developed and are being operated by separate special purpose vehicles (SPVs) which are subsidiaries of Oriental.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||Oriental Structural Engineers Private Limited||Client||-|
|-||-||-||-||Oriental Tollways Private Limited||Subsidiary||-|
Oriental Structural Engineers Limited
OSE Commercial Block, Asset 5B, Aerocity, Hospitality District, IGI Airport, New Delhi, Delhi 110037
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