New Delhi, National Bank for Financing Infrastructure and Development (NaBFID) on Tuesday said it has raised Rs 5,000 crore by issuing listed bonds.
The issue received an overwhelming response from investors with bids worth Rs 12,287 crore, NaBFID said in a regulatory filing.
The bonds were oversubscribed 6 times against the base issue of Rs 2,000 crore.
Unsecured non-convertible, rated 'AAA' with stable outlook, the debt securities are issued at an annual coupon rate of 7.43 per cent for a tenure of 10 years.
It said this represents a spread of 26 basis points over the respective Financial Benchmark India Pvt Ltd (FBIL) GSEC cross yield curve. The total number of bids received was 131, indicating wide participation with a diversity of bids. .
It said investors were in provident funds, pension funds, insurance companies, banks etc., which shows investor confidence across all sectors.
Rajkiran Rai, Managing Director, NABFID, said, "This issuance is also very significant as NABFID has been consistently successful in raising long-term bonds. The wide participation of the investor class shows confidence in Indian infrastructure as an asset class."
NaBFID was established in 2021 with the essential objectives of addressing the gap in long-term non-recourse finance for infrastructure development, strengthening the development of bond and derivatives markets in India and continuously boosting the country's economy.
The issue received an overwhelming response from investors with bids worth Rs 12,287 crore, NaBFID said in a regulatory filing.
The bonds were oversubscribed 6 times against the base issue of Rs 2,000 crore.
Unsecured non-convertible, rated 'AAA' with stable outlook, the debt securities are issued at an annual coupon rate of 7.43 per cent for a tenure of 10 years.
It said this represents a spread of 26 basis points over the respective Financial Benchmark India Pvt Ltd (FBIL) GSEC cross yield curve. The total number of bids received was 131, indicating wide participation with a diversity of bids. .
It said investors were in provident funds, pension funds, insurance companies, banks etc., which shows investor confidence across all sectors.
Rajkiran Rai, Managing Director, NABFID, said, "This issuance is also very significant as NABFID has been consistently successful in raising long-term bonds. The wide participation of the investor class shows confidence in Indian infrastructure as an asset class."
NaBFID was established in 2021 with the essential objectives of addressing the gap in long-term non-recourse finance for infrastructure development, strengthening the development of bond and derivatives markets in India and continuously boosting the country's economy.
