LIC buys first issuance of NHAI’s 30-year bonds in 2018-19

The Life Insurance Corporation of India has bought the first issuance of the National Highways Authority of India’s 30-year bonds in 2018-19. It has bought bonds worth Rs 20 billion. These bonds offer an 8.55 per cent coupon rate for the first 10 years, and the rate will be reset after every decade based on existing benchmark yields.