IndiGrid Loan II

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 India Grid Trust (IndiGrid) is India’s first and largest power sector infrastructure investment trust, a yield platform comprising thirteen transmission assets and two solar assets (which are not included in the IFC’s investment), aggregate assets under management (AUM) of US$2.89 billion across 18 states spanning across 8468 ckms (46 lines), transformation capacity of 17,550 million volt-amps or MVA (13 sub-stations) and 100 MW (AC) of renewable capacity. It is sponsored by Esoteric II Pte Ltd (an affiliate of Kohlberg Kravis Roberts, KKR), a leading global investment firm. IFC committed and disbursed US$139 million in local currency equivalent in April 2013 (First Transaction). The additional Facility comprises Non-convertible Debentures (NCD) issuance by IndiGrid (the Issuer) and subscription by IFC of upto US$200 million. IFC is proposing to refinance the shareholder’s loan in the five operational transmission line assets . These are the same five (5) assets currently being financed under project # 45645. They were selected from a list of 13 assets in the InvIT portfolio for the first investment, based on an initial Environmental and Social (E&S) screening and thereafter an Environmental and Social Due Diligence (ESDD) conducted by a third-party consultant between December 2021 and April 2022.IFC’s proceeds will be directed to 5 Transmission Line SPVs namely:Jabalpur Transmission Company Limited or JTCL (994 km, 2 lines, commissioned in 2015).Purulia Kharagpur Transmission Company Limited or PKTCL (546 km, 2 lines, commissioned in 2017). RAPP Transmission Company Limited or RCTL (403 km, 1 line, commissioned in 2016).Maheswaran Transmission Line or MTL (474 km, 2 lines, commissioned in 2017).Odisha Generation Phase-II Company Limited or OGPTL (713 km, 2 lines, commissioned in 2017).