Advisor cum Arranger

National Highways Authority Of India

The Largest Road Sector PSU transaction in India


Assignment Highlights

  • SBICAP was the Advisor/ Consultant and Arranger for fund raising of National Highways Authority Of India for the Financial Year 2016-17 from the debt capital market
  • Advised NHAI for the fund raising through Non-convertible debenture, Commercial paper, Indian Rupee offshore bonds and other debt market instruments for the financial year 2016-17. 
  • Long term domestic bonds for 30 years were targeted to match the profile of infrastructure projects.
  • Marquee investors from insurance and pension funds space subscribed to their bonds among other institutional investors.
  • Total mobilization of over Rs. 27000 crore during FY17


SBICAP Value Add

  • SBICAP has hand holded NHAI in the entire borrowing programme during FY17.
  • Assisted the client in appointment of other intermediaries such as trustees, registrars, collecting bankers etc. for the issuances.
  • Preprepared the Information Memorandum and the term sheets in co-ordination with the NHAI and as per provisions stipulated by SEBI, RBI, Companies Act 2013, Stock exchanges as applicable.
  • Assisted the client in obtaining the in principle approval from the stock exchanges 
  • Marketed the issuance to large institutional investors to have wider participation and negotiated the rates along with NHAI with the potential investors.
  • Liaised with multiple stakeholders like registrar, debenture trustee, bankers, rating agencies, stock exchange and depositories for smoother execution of the deals throughout the year. 
  • Coordinated for post issuance activities like allotment & listing.

Deal Summary

Year 2016-17
Instrument Taxable Secured Redeemable Non-Convertible Bonds in the nature of Debentures
Tenor 5-30 years Multiple Tranches
Total Mobilisation INR 27,545 Cr
SBICAP Role Advisor cum Arranger
Listing NSE/ BSE
Coupon 7.17%- 8.03%

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