IIFCL signs credit guarantee agreement with GMR

India Infrastructure Finance Company Ltd (IIFCL) has signed a guarantee agreement with GMR Jadcherla Expressways.

Under the guarantee agreement, IIFCL has provided partial credit guarantee to the upcoming bond offering of GMR Jadcherla to enhance its rating to AA level, thus making it eligible for investments by institutions like insurance companies and pension funds.

This development would help GMR to raise low cost funds, especially from insurance companies, through a bond offering.