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NIIF Infrastructure Finance plans to raise INR 12 billion (USD 134.56 million) through a seven-year-and-six-month bond, offering a 7.48% annual coupon. The issue includes a greenshoe option of INR 7 billion, with bids scheduled for the next day. Rated AAA by ICRA, the bonds are part of broader market activity, which includes recent bond offerings from Sundaram Finance, PFC, Axis Bank, SIDBI, Anzen India Energy, and Cholamandalam Investment. These transactions highlight active participation in India's long-term debt market, particularly for infrastructure and high-credit instruments.
NIIF Infrastructure Finance is preparing to raise INR 12 billion (USD 134.56 million) through a bond issue with a maturity of seven years and six months, according to three bankers familiar with the plans. The total includes a greenshoe option of INR 7 billion. The company intends to offer an annual coupon of 7.48% and has invited both coupon and commitment bids for the bonds the next day. The firm has not provided any official comment on the issuance. Advertisement
The bonds have received a AAA rating from ICRA, indicating high credit quality. This issuance comes amid a series of bond offerings in India in recent days. Sundaram Finance is offering three-year bonds at 7.05% for INR 8 billion, PFC is issuing 10-year bonds at 7.08% for INR 30 billion, and Axis Bank has planned a 10-year bond sale worth INR 50 billion at 7.27%. Other recent deals include SIDBI's three-year-and-one-month bonds at 6.74% for INR 59.35 billion, Anzen India Energy's 11-year bonds at 7.39% for INR 7.75 billion, and Cholamandalam Investment's seven-year bonds at 8.40% for INR 5 billion. Several of these issues, including NIIF Infra Finance, have a greenshoe option that allows the total size to expand if investor demand is high.
The move by NIIF Infra Finance reflects continued activity in India's corporate bond market, particularly for long-term infrastructure funding. Investors are being offered attractive returns for high-rated instruments, while issuers leverage these offerings to secure stable long-term capital for their projects.
Source Reuters
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