Infrastructure India plc announced that it has agreed an extension to the maturity dates of all its debt facilities, being the term loan provided by IIP Bridge Facility LLC (the "Term Loan"), the working capital loan provided by GGIC Ltd. and the bridging loan provided by Cedar Valley Financial (the "Bridging Loan"). The Term Loan has also been increased by a further USD 2.5 million for general working capital purposes and funding of its underlying assets. Each of IIP's lenders has agreed to extend the maturity date of the respective loans to 15 July 2024 to accommodate the revised expected timeline to closing a transaction for the sale of DLI.

In addition, IIP has reached agreement with IIP Bridge Facility LLC to increase its term loan by a further USD 2.5 million, taking the principal to USD 121.5 million, for general working capital purposes and funding of its underlying assets. The Term Loan is currently a USD 119 million principal secured facility provided to IIP's wholly owned Mauritian subsidiary, Infrastructure India Holdco, originally announced in April 2019. The loan carries an interest rate of 15% per annum, calculated in a manner that yields a 15% IRR for the lender and is secured on all assets of Infrastructure India Holdco, including 100% of the issued share capital of Distribution Logistics Infrastructure India, DLI's parent company.

The current amount of interest accrued is approximately USD 100 million. The maturity date of 15 May 2024 has been extended to 15 July 2024 (the "Maturity Extensions" applying collectively to all loan maturity extensions set out in this announcement). The unsecured Working Capital Loan was originally provided to the Group in April 2013 by GGIC Ltd. in an amount of USD 17 million and increased to USD 21.5 million in September 2017.

The Working Capital Loan carried an interest rate of 7.5% per annum on its principal amount. The Group and GGIC Ltd. agreed to increase its interest rate to 15% per annum from 1 April 2019. The current amount of interest accrued is approximately USD 32 million.

The maturity date of 15 May 2024 has been extended to 15 July 2024. The unsecured Bridging Loan was originally provided to the Group in June 2017 by Cedar Valley Financial and was subsequently increased in multiple tranches to USD 64.1 million in March 2019. The Bridging Loan carried an interest rate of 12.0% per annum on its principal amount.

The Group and Cedar Valley Financial previously agreed to increase its interest rate to 15% per annum from 1 April 2019. The current amount of interest accrued is approximately USD 66 million. The maturity date of 15 May 2024 has been extended to 15 July 2024.

The Company will make a further announcement in due course.