GMR seeks to refinance projects at lower costs

GMR Infra  is looking to refinance its road and power projects which are nearing completion. The refinancing initiative may cut fund cost by at least 100 bps, say CNBC-TV18 quoting Newswire18. Currently, the consolidated debt stands at over Rs 33000 crore and the average cost of borrowing is around 11%

The firm which operates in highways, power and airport verticals is focusing on operationalising over half-a-dozen assets across its verticals. These will get operational over the next one year and will generate cash flows that will be used to fund investments