Abhijeet Power To Raise $1.2Bn Debt For Bihar Power Project

Abhijeet Power is planning to raise $1.2Bn debt for its 1,320 MW coal-fired power project by March.

Axis Bank is lead banker for the deal. Others in the consortium include Punjab National Bank, UCO Bank, Rural Electrification Corp, Power Finance Corp, Bank of India, State Bank of Bikaner and Jaipur , Oriental Bank of Commerce, IIFCL , HUDCO and LIC.

The project in Bihar is being developed by Abhijeet Power's unit, Jas Infrastructure and Power Ltd. Jas Infrastructure is planning to fund the project through 20% equity and 80% debt.