NaBFID considers $4.8 billion worth of bond sale to double loan disbursements
NaBFID) plans to raise up to $4.8 billion (around ₹40,000 crore) in local currency bonds, Bloomberg reported citing sources. The state-backed lender aims to more than double its loan disbursement, it added.
Also Read | Adani Group tells investors sale of new overseas bond worth $409 million due next week: Report NaBFID intends to issue bonds with maturity periods ranging from 10-20 years in the financial year beginning April 1, sources said. The targeted fundraising amount is anticipated to fall within the range of ₹30,000 crore to ₹40,000 crore ( ₹300 billion to ₹400 billion), they added.
Established in 2022, the state-backed financier has made strides in the current fiscal year, accumulating ₹195.2 billion through two bond issuances. This move aligns NaBFID with other Indian financial entities venturing into bond sales, buoyed by a surge in government expenditure on infrastructure, including roads, ports, and railways.
Also Read | NHAI raises more than ₹16,000 crore in its largest InvIT monetisation round Notably, NaBFID has already disbursed loans exceeding ₹250 billion since April 2023, one source told the publication. NaBFID did not respond to queries, Bloomberg said.
The central government has significantly ramped up investment in critical infrastructure sectors such as roads, airports, and urban development. Also Read | At India's second largest engineering company, gaps emerge in electoral bond funding Over the past three years, expenditure in these areas has doubled, with an allocation of around ₹11 trillion or equivalent to $133 billion (around ₹11 lakh crore) earmarked for the upcoming fiscal year.Milestone Alert!
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