IIFCL LINES UP Rs 3,600-CR PROPOSALS FOR TAKE-OUT FINANCING

India Infrastructure Finance Company Ltd (IIFCL) has lined up proposals worth Rs 3,600 crore for take-out  financing. The company is awaiting the Cabinet's approval for the tweaked norms for take-out financing. The approval is "expected any moment" and once it comes, IIFCL would disburse the Rs 3,600 crore in less  than a month. A take-out agreement helps the first lender go ahead with lending to an infrastructure project, as he knows that he would keep the loan on his books only for a
few years, say until the project is completed.