NHIT to raise ₹9,000cr via private bond placement: Details here
The National Highways Infra Trust (NHIT) is set to raise up to ₹9,000 crore through a private bond placement, aiming to refinance its hefty ₹21,700 crore debt and bring down borrowing costs.
It's a move that could make managing India's highway investments a bit smoother.
NHIT's journey so far
NHIT will mostly issue zero-coupon bonds with staggered maturities of three to 10 years—this helps spread out repayments smartly.
Since launching in 2020, NHIT has invested about ₹46,000 crore in 26 toll roads across 12 states.
The trust boasts AAA-rated debt thanks to strong support from NHAI and big-name investors like Canada Pension Plan Investment Board and Ontario Teachers's Pension Plan Board.
What's the buzz around this bond issue?
Refinancing with these bonds fits the current trend of top-rated issuers locking in low yields for long-term funding—a strategy that insurance investors may remain cautious about.
NHIT expects the fundraising process to begin within two or three months.