GMR Highways raises Rs 700 cr debt to prepay Yes Bank

GMR Highways has raised ₹700 crore debt from foreign portfolio investors Zeal Global Opportunities Fund and Nova Global Opportunities Fund to prepay loans raised from Yes Bank. Both invested ₹350 crore each in secured, unlisted, and unrated bonds of GMR Highways maturing on February 20, 2028. The bonds have been issued at 14% per annum for 48 months, with the company pledging 100% of its equity shares and providing a corporate guarantee.

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