| Log in
Photo Credit: Thinkstock

Fairfax India raises $400 mn in debt

12 July, 2017

Fairfax India Holdings, the local arm of billionaire Prem Watsa-led Fairfax Financial Holdings, has raised $400 million (about Rs 2,579 crore) through a one-year bank loan, the firm said in a press statement.

The Canadian investment firm announced it had “completed a one-year secured term loan with a Schedule I Canadian bank,” but didn’t divulge more details.

It is not clear if the entire amount will go towards fresh India investments or to refinance old debt.

Fairfax India Holdings did not immediately respond to a request for comment.

So far, the investment firm has raised $1.56 billion for investing in India, neck and neck with West Bridge Capital Partners.

In its most recent investment, Fairfax India bought additional stake in the Bangalore International Airport Ltd (BIAL) from GVK Power & Infrastructure Ltd for $200 million.

In March, Fairfax India said it had completed the acquisition of a 38% stake in BIAL for $385.5 million (Rs 2,520 crore then).

Separately, it is in the process of liquidating some of its holding in ICICI Lombard to Warburg Pincus in a deal that is expected to close in the third quarter of 2017.

Like this report? Sign up for our daily newsletter to get our top reports.


Leave Your Comment
Fairfax to up stake in Bangalore Airport for $200 mn, GVK to exit

Fairfax to up stake in Bangalore Airport for $200 mn, GVK to exit

Ankit Doshi 6 months ago
GVK Power & Infrastructure Ltd said on Friday it has decided to sell its...
GVK to sell 33% in Bangalore airport to Fairfax for $321M

GVK to sell 33% in Bangalore airport to Fairfax for $321M

Anuradha Verma 2 years ago
GVK Power & Infrastructure Ltd said on Monday it will sell a 33 per cent...
How billionaire Prem Watsa’s Fairfax stepped up its India bets

How billionaire Prem Watsa’s Fairfax stepped up its India bets

Bruhadeeswaran R and Ranjani R 8 months ago
Canadian billionaire Prem Watsa has, almost always, shied away from buying...
No Comments

Fairfax India raises $400 mn in debt

Powered by WordPress.com VIP