NaBFID lists maiden bonds of Rs 100 billion

The National Bank for Financing Infrastructure and Development (NaBFID) has listed its maiden bonds on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) and raised about Rs 100 billion via the issuance of listed bonds. The lender received bids of Rs 236.29 billion and the bonds were oversubscribed by about 4.7 times, as against the base issue of Rs 50 billion.
The unsecured non-convertible debt securities were issued at an annualised coupon rate of 7.43 per cent for a 10 year-tenor. The infrastructure lender has already disbursed loans worth Rs 150 billion, of the total sanctions of Rs 250 billion.
The institution plans to borrow Rs 500 billion in 2023-24 via bank borrowings and bond issuances.