The unsecured, non-convertible bonds are rated 'AAA' with a stable outlook and carry an annualized coupon rate of 7.43% for a 10-year tenure. This rate represents a spread of 26 basis points over the corresponding Financial Benchmarks India Pvt Ltd (FBIL) GSec par yield curve. The issue saw broad participation with 131 bids, reflecting diverse investor interest.

Investors included provident funds, pension funds, insurance companies, and banks, indicating widespread trust across various segments. Rajkiran Rai, Managing Director, NaBFID highlighted the significance of the issuance, noting it underscores investor confidence in Indian infrastructure as an asset class and the institution's ability to raise long-duration bonds successfully.

Established in 2021, NaBFID aims to address gaps in long-term non-recourse financing for infrastructure development, strengthen the development of bonds and derivatives markets in India, and sustainably boost the country's economy.

(Source:ET)