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. Leave Your Comment