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Bank of India raises Rs 5,000 crore via long-term infrastructure bonds

Money Control

Money Control · 1y ago

Bank of India raises Rs 5,000 crore via long-term infrastructure bonds

Bank of India raised Rs 5,000 crore through long-term infrastructure bonds at an interest rate of 7.54 percent per annum. The base issue size was Rs 2,000 crore with a green shoe option of Rs 3,000 crore. The bank received a total of 127 bids, amounting to Rs 15,318 crore, and selected 57 successful bidders for the issue. The funds raised will be used for long-term projects in infrastructure sub-sectors and affordable housing, following RBI guidelines. In May, the bank reported a 7 percent increase in net profit in the fourth quarter of FY24.

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SBI raises Rs 10,000 crore through infra bond sale

IndianStartupNews

IndianStartupNews · 1y ago

SBI raises Rs 10,000 crore through infra bond sale

State Bank of India (SBI) has successfully raised Rs 10,000 crore through its fourth infrastructure bond issuance. The issue was oversubscribed by more than 5 times, with investors from various sectors participating. The funds raised will be used to enhance long-term resources for infrastructure and affordable housing projects. This issuance brings the total outstanding long-term bonds issued by SBI to Rs 39,718 crore. The bank has a AAA credit rating with a stable outlook from all domestic credit rating agencies.

SBI raises Rs 10,000 cr via bonds to fund infra projects

YourStory

YourStory · 1y ago

SBI raises Rs 10,000 cr via bonds to fund infra projects

State Bank of India (SBI) has raised Rs 10,000 crore through its fifth infrastructure bond issuance. The issue was oversubscribed by four times and attracted bids in excess of Rs 19,884 crore. The funds will be used to enhance long-term resources for funding infrastructure and affordable housing segments. SBI Chairman Dinesh Khara hopes that this issuance will develop a long-term bond curve and encourage other banks to issue longer-tenor bonds.

HDFC Bank raises ₹7,425 crore via bonds to fund infra, housing projects

Livemint

Livemint · 1y ago

HDFC Bank raises ₹7,425 crore via bonds to fund infra, housing projects

HDFC Bank has raised ₹7,425 crore through non-convertible bonds to finance infrastructure and affordable housing projects, as per a regulatory filing. The bank issued 742,500 bonds with a face value of ₹100,000 each. This move highlights HDFC Bank's commitment to supporting the development of crucial sectors in India.

BoI to raise Rs 20,000 cr via infra bonds this fiscal

Economic Times

Economic Times · 2m ago

BoI to raise Rs 20,000 cr via infra bonds this fiscal

Bank of India (BoI) plans to raise Rs 20,000 crore through infrastructure bonds in the current fiscal year to fund various infrastructure projects. This decision has been approved by the board as part of efforts to join other banks like SBI in raising funds dedicated to infrastructure development. Infrastructure bonds are preferred due to their exemption from regulatory reserve requirements, unlike AT-1 and Tier-2 bonds, making them a more attractive funding option.

AU Small Finance Bank's board approves fundraise of Rs 11,000 crore

Money Control

Money Control · 1y ago

AU Small Finance Bank's board approves fundraise of Rs 11,000 crore

AU Small Finance Bank has announced a fundraise of Rs 11,000 crore. Of this, Rs 5,000 crore will be raised through private placement or qualified institutions placement (QIP), while another Rs 6,000 crore will be raised through the issue of bonds and non-convertible debentures. Private equity firm WestBridge Capital has also recently divested a 1.75% stake in the bank for Rs 845 crore. Additionally, YES Bank has approved its own fund-raising plans through the issue of debt securities.

Indian govt raises Rs 1.42 lakh cr via asset monetisation till FY25

Economic Times

Economic Times · 7d ago

Indian govt raises Rs 1.42 lakh cr via asset monetisation till FY25

The Indian government has successfully monetized Rs 1,42,758 crore in assets until FY25, mainly through Toll Operate & Transfer (ToT), Infrastructure Investment Trust (InvIT), and securitization of highway assets. Union Minister Nitin Gadkari noted the target for the current fiscal year is Rs 30,000 crore. Additionally, the Cashless Treatment of Road Accident Victims Scheme has treated 4,971 victims. Various strategies, including NHIT, are employed for optimal asset valuation and raising finances via bonds and other instruments.

IndusInd Bank to consider raising funds via long-term bonds

Economic Times

Economic Times · 1m ago

IndusInd Bank to consider raising funds via long-term bonds

IndusInd Bank is considering raising funds through long-term bonds, a topic set for discussion in its board meeting on July 23. This move follows a $230 million loss due to previous misaccounting issues, which led to the resignation of its CEO and deputy in April. The bank is also exploring capital increases via depository receipts and qualified institutional placements as part of its recovery and growth strategy.

NaBFID's loan sanctions to rise to Rs 3.2 lakh crore by end of FY25, says MD Rajkiran Rai

Money Control

Money Control · 11m ago

NaBFID's loan sanctions to rise to Rs 3.2 lakh crore by end of FY25, says MD Rajkiran Rai

The National Bank for Financing Infrastructure and Development (NaBFID) is expected to increase loan sanctions to Rs 3.2 lakh crore by the end of the financial year. Rajkiran Rai, NaBFID's managing director, anticipates a surge in project flows in the second half of the year. Currently, the bank has Rs 1.2 lakh crore in sanctions and over Rs 50,000 crore in disbursements. Rai expects disbursements to reach Rs 93,000 crore by the end of the year. NaBFID is primarily funding projects in sectors such as infrastructure, energy, roads, and railways. The bank also plans to raise Rs 53,000 crore through bonds from the domestic market.

Mindspace REIT raises Rs 550 cr from IFC via issue of green bonds

Economic Times

Economic Times · 8d ago

Mindspace REIT raises Rs 550 cr from IFC via issue of green bonds

Mindspace Business Parks REIT, sponsored by the K Raheja Corp group, has secured an additional Rs 550 crore from the International Finance Corporation (IFC) by issuing green bonds. This adds to their initial Rs 650 crore raised via Sustainability-Linked Bonds in June 2024. The funds will support the company in expanding green-certified space. Mindspace REIT owns office spaces across Mumbai, Pune, Hyderabad, and Chennai, with a total leasable area of 38.1 million square feet.

Govt plans to buy back NHAI bonds worth Rs 50,000 - 70,000 crore to pare co’s debt

Money Control

Money Control · 11m ago

Govt plans to buy back NHAI bonds worth Rs 50,000 - 70,000 crore to pare co’s debt

The Indian government is in discussions with long-term bondholders of the National Highways Authority of India (NHAI) for the prepayment of three NHAI bonds. This move is part of the government's plans to reduce NHAI's debt from around Rs 3.35 lakh crore to Rs 1 lakh crore. The Ministry of Road Transport and Highways is looking to spend around Rs 50,000 to Rs 70,000 crore for the buyback. The funds will be used to strengthen the highway network and reduce interest payments. Additionally, the government aims to attract private investments in the road and highway sector through PPP projects.

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