off-the-wire

India New Issue-NIIF Infra Finance to reissue 7.25% Feb 2031 bonds - bankers

Kitco Media
By Reuters
Published:
Updated:
Reuters
MUMBAI, March 20 (Reuters) - India's NIIF Infrastructure Finance plans to raise at least 1.50 billion rupees ($18.18 million) through the reissue of 7.25% February 2031 bonds, three merchant bankers said on Monday. The company has invited bids from bankers and investors for the issue on Tuesday, they said.


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


The issue has a greenshoe option to retain an additional 4.50 billion rupees.


Earlier this month, the company raised 1.51 billion rupees through bonds maturing in five years at an annual coupon of 8.0550% on the issue.
($1 = 82.5200 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Sohini Goswami)

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