IL&FS Transportation unit plans to issue renminbi-denominated notes

By Sarah Lizee

Olympia, Wash., Jan. 5 – IL&FS Transportation Networks Ltd.’s wholly owned subsidiary, ITNL Offshore Pte. Ltd., is planning to issue renminbi-denominated notes, according to a notice.

CLSA, MUFG and Standard Chartered Bank are joint bookrunners and joint lead managers.

The deal will launch “in the near future” subject to market conditions, according to the notice.

Proceeds will be primarily used to redeem notes issued by ITNL in 2015.

The notes will be listed on the Singapore Stock Exchange, the company said.

IL&FS Transportation is a surface transportation infrastructure company based in Mumbai.

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