StockMarketWire.com - Infrastructure India said it had extended the maturity date and increased the size of a bridging loan, as it faced further delays sealing a proposed financing deal.

A $48.4m unsecured bridging loan facility provided by Cedar Valley Financial had been upped by $5m. Both that loan and a separate working capital facility had been extended until 5 February.

Infrastructure India announced in July that it had entered into conditional proposed financing agreements for up to $125m with PSA International and Gateway Partners.

Since then, it has extending the maturity dates of the bridging facility and working capital loan several times while attempting to complete that deal. 'The parties continue to progress towards completion of that transaction, with several conditions precedent to the closing having been met and the remainder, including key governmental approvals, expected to be met in the coming weeks,' Infrastructure India said.




At 2:24pm: [LON:IIP] Infrastructure India PLC share price was -0.05p at 2.25p



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