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Reliance Infrastructure announced that the company's 16 lenders have signed the Inter-Creditor
Agreement (ICA). As per the RBI Circular of 07 June 2019, 100% of its lenders have signed the
ICA for the resolution of Reliance Infrastructure's debt.
Reliance Infrastructure has now achieved standstill for 180 days as per the ICA. According to
the RBI Circular, the Resolution Plan of Reliance Infrastructure is to be implemented within 180
days. Reliance Infrastructure is confident of implementing its Resolution Plan well before the
180-days deadline based on advanced progress of its various asset monentisation initiatives.
Reliance Infrastructure has already announced the sale of Delhi-Agra Toll Road for Enterprise
Value of Rs 3,600 crore. With this single transaction, debt of Reliance Infrastructure will reduce
by over 25% to just over Rs 4,000 crore.
Reliance Infrastructure also plans to monetise its marquee 7 Lakh Sq. Ft. Reliance Center in
Santacruz by way of long-term lease.
The Company aims to be zero debt in 2020.
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