<article><a style="color: #000080;" href="http://dealstreetasia.com/tag/essel-highways" target="_blank">Essel Highways Ltd</a>, a subsidiary of Essel Infraprojects Ltd, on Friday said it has secured $85 million loan from investment bank <a style="color: #000080;" href="http://dealstreetasia.com/tag/goldman-sachs" target="_blank">Goldman Sachs</a> as part of a $220 million debenture issuance.</article>

<a style="color: #000080;" href="http://dealstreetasia.com/tag/essel-highways" target="_blank">Essel Highways Ltd</a>, a subsidiary of Essel Infraprojects Ltd, on Friday said it has secured $85 million loan from investment bank <a style="color: #000080;" href="http://dealstreetasia.com/tag/goldman-sachs" target="_blank">Goldman Sachs</a> as part of a $220 million debenture issuance.
The funds will be used to “finance new projects and strategic acquisitions”, Essel Infraprojects said. “As new corporate milestones are achieved, the remaining balance of the debenture issuance is expected to be subscribed to by other financial institutions and investors,” it said.
Essel Infraprojects is focused on construction, development and operations of national and state highways in India.
Essel Highways, which was set up in 2007, has assets valued at about $1.8 billion. The company has 14 road projects totalling 4,500km, of which 10 are operational.
“These new funds will strengthen our ability to grow our road project portfolio and allow for additional strategic acquisitions,” said Ashok Agarwal, chief executive, Essel Infraprojects.
In March, the group’s solar power firm Essel Green Energy Pvt. Ltd received $132 million from Piramal Enterprises Ltd and Dutch pension fund asset manager APG Asset Management for the development of solar assets in India.
At 4.7 million km, India has the second-largest road network in the world.
India builds about 28km of roads per day.
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Essel Highways Ltd has secured $85 million loan from investment bank Goldman Sachs as part of a $220 million debenture issuance.

India: Essel Highways secures $85m loan from Goldman Sachs

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India: Essel Highways secures $85m loan from Goldman Sachs

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