Latest News | NaBFID Gets 4.7 Times Bid for Rs 10,000 Cr-maiden Debt Sale

Mumbai, Jun 15 (PTI) The National Bank for Financing Infrastructure and Development (NaBFID) on Thursday said it has raised Rs 10,000 crore in maiden debt issuance and received nearly five times the bids.

The public bonds have received an overwhelming response from investors worth Rs 23,629.50 crore, an oversubscription of 4.7 times, against the base issue of Rs 5,000 crore, the issuer said.

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The unsecured non-convertible debt securities have been issued at an annualised coupon rate of 7.43 per cent for a 10 year-tenure. This is the largest debt issuance by an all-India financial institution, NaBFID said and claimed that the issuance sets a new milestone for bond issuances by financial institutions.

Rajkiran Rai G, managing director of NaBFID, said that the company is enthused by the support for the maiden public issue of debt and is looking forward to continued contribution to the growth of infrastructure.

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The Centre has invested Rs 20,000 crore in equity so far, and provided a grant of Rs 5,000 crore, according to the company.

The lender, in one year of its operations, has already disbursed around Rs 15,000 crore of infra loans.

The 10-year money bonds will be listed on the BSE and NSE.

SBI Caps was the lead advisor to the issue and Cyril Amarchand Mangaldas was the legal advisor.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)