NHAI raises Rs 7.75 billion through green bonds

The National Highways Authority of India’s wholly owned subsidiary, DME Development Limited, has raised Rs 7.75 billion through the issuance of green bonds. NHAI has raised funds through this instrument for the first time. The issue comprised a Rs 500 billion base issue with Rs 275 billion set aside as a green shoe option. The bonds attracted a yield of 7.23 per cent. The proceeds from the raise will be utilised on venue plantation, median plantation, construction of animal underpasses, natural stormwater drainage, solar streetlight, waste recycling and reuse and rainwater harvesting on the Delhi-Mumbai Expressway.