NaBFID to raise up to Rs 5,000 crore through bonds on July 2
NaBFID to raise up to Rs 5,000 crore through bonds on July 2
National Bank for Financing Infrastructure and Development (NaBFID) plans to raise up to Rs 5,000 crore through bonds on July 2, money market sources said.
The bonds have a base issue of Rs 2,000 crore and a greenshoe option of Rs 3,000 crore. A greenshoe option gives the underwriter the right to sell investors more bonds than planned if the demand is higher than expected.
The bonds will mature in 10 years or on July 4, 2034.
Bidding will take place between 11:00 am and 12:00 pm on the electronic bidding platform of BSE.
The pay in date on the bonds is on July 4. Pay in date is the date when exchange of bonds and money takes place between issuers and investors.
The bonds have been rated ‘AAA’ with ‘Stable’ outlook by CRISIL and ICRA.
Minimum application size on the bonds is Rs 1 lakh and in multiples of Rs 1 lakh thereafter.
On June 28, Krazybee Services Pvt Ltd, ICICI Bank, Muthoot Fincorp, ICICI Home Finance Co Ltd, and Vedika Credit Capital raised funds through bonds.
ICICI Bank raised Rs 3,000 crore through bonds at a coupon rate of 7.53 percent.