Indian Bank, NaBFID to raise ₹8,000 crore via bonds
Indian Bank and NaBFID plan to raise a combined ₹8,000 crore through bonds — Indian Bank via seven- or 10-year infrastructure bonds and NaBFID via 10-year notes by March 2026.
The goal? To fuel more projects and give a boost to development.
Indian Bank's 1st bond issue in a year and half
Indian Bank is aiming for ₹5,000 crore with seven- or 10-year bonds, its first bond issue in a year and a half.
NaBFID just raised over ₹2,500 crore with 10-year bonds at a 7.45% rate but had to pull back on another bond offer due to higher-than-expected yields caused by global tensions.
NaBFID focuses on long-term infrastructure financing
NaBFID focuses on long-term infrastructure financing; Indian Bank plans to raise ₹5,000 crore through seven- or 10-year infrastructure bonds, while NaBFID is all about supporting long-term infrastructure under the Viksit Bharat plan.
NaBFID is targeting ₹3 lakh crore in sanctions (no timetable given in the source).
Institutional investors still have an appetite for these investments
Bank of Baroda recently raised ₹10,000 crore through bonds;
Union Bank of India was set to raise ₹7,500 crore on Friday, showing that institutional investors still have an appetite for these investments, even when interest rates are high.