The bonds are rated AAA by CRISIL and CARE Ratings and the issue will be settled on Tuesday. The issue had a base size of 6 billion rupees and a greenshoe option to retain an additional subscription of 24 billion rupees. DME Development is a special-purpose vehicle created by the NHAI in August 2020 for the construction of the greenfield Delhi-Mumbai Expressway that passes through the states of Delhi, Rajasthan, Madhya Pradesh, Gujarat and Maharashtra. In February, DME Development raised 36.84 billion rupees through bonds maturing in 10 years at a semi-annual coupon of 7.82%. ($1 = 82.0830 Indian rupees) (Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Janane Venkatraman)
bhakti.rajendratambe.thomsonreuters.com@reuters.net Twiter: )) MUMBAI, March 10 (Reuters) - DME Development, a unit of
the National Highways Authority of India (NHAI), has accepted
bids worth 23.55 billion rupees ($286.90 million) for bonds
maturing in 10 years, three merchant bankers said on Friday.
The company will pay a semi-annual coupon of 7.89% on this
bond issue, for which it invited bids from bankers and investors
earlier in the day.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.