NaBFID Raises Rs 5,000 Crore Via Bonds

The National Bank for Financing Infrastructure and Development on Tuesday announced that it has raised Rs 5,000 crore by issuing listed bonds.

The bond issue received a robust response from investors, attracting bids totaling Rs 12,287 crore, according to an exchange filing.

The bonds were oversubscribed six times, significantly surpassing the base issue size of Rs 2,000 crore.

These unsecured, non-convertible debt securities are rated 'AAA' with a stable outlook. They offer an annualised coupon rate of 7.43% for a tenure of 10 years.

This represents a spread of 26 basis points over the corresponding Financial Benchmarks India Pvt., G-Sec par yield curve, it said, adding, the total number of bids received was 131, indicating wider participation with heterogeneity of bids.

The investors were across provident funds, pension funds, insurance companies, banks, etc., indicating the trust of investors across segments, it said.

"This issuance is also very significant as NaBFID has been successful in raising long-duration bonds successively. The wider participation across investor class shows confidence in Indian infrastructure as an asset class," NaBFID Managing Director Rajkiran Rai said.