CRISIL has assigned AAA rating to L&T Infra Debt Fund Limited (L&T IDF). IDFs will allow the flow of long-term lower cost funds to operational Public Private Partnership (PPP) infrastructure projects.
Mr. YM Deosthalee, Chairman, L&T IDF said, “Bonds issued by AAA-rated L&T IDF will provide an excellent investment opportunity to long-term investors, both domestic & international. Such instruments would enable investors like pension/insurance funds to invest in a portfolio of operating infrastructure assets, enabling matching of investors’ risk & return profile”
L&T IDF is the newest product offering from the L&T Financial Services platform which would focus on providing low-cost structured solutions to eligible infrastructure projects.
L&T IDF is sponsored by L&T infrastructure Finance Company Limited (L&T Infra), a subsidiary of L&T Finance Holdings Ltd (LTFH). L&T IDF, which received its Certificate of Registration(CoR) on 21st October 2013, is an Infrastructure Debt Fund (IDF). L&T IDF has been incorporated with an initial share capital of Rs. 300 crore and would leverage through the issue of bonds.
Infrastructure Debt Fund (IDF) is a Government of India initiative to channelize long term funds, both domestic and international, towards refinancing of infrastructure projects.
