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India New Issue-NIIF Infra Finance to issue 5-year bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 13 (Reuters) - India's NIIF Infrastructure Finance plans to raise at least 1.5 billion rupees ($18.25 million) through bonds maturing in five years, three merchant bankers said on Monday.


The company will pay a coupon of 8.055% on this bond issue for which it has invited bids from bankers and investors on Wednesday, they said.


The issue also has a greenshoe option to retain an oversubscription of 2.5 billion rupees.


The bonds are rated AAA by ICRA and the issue will be settled later this week.


In February, the company raised 1.58 billion rupees through reissue of 7.98% February 2028 bonds at cutoff price of 99.55 rupees.
($1 = 82.2020 Indian rupees) (Reporting by Bhakti Tambe; Editing by Shailesh Kuber)

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