National Highways Authority Of India
The Largest Road Sector PSU transaction in India
- 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.
|Instrument||Taxable Secured Redeemable Non-Convertible Bonds in the nature of Debentures|
|Tenor||5-30 years Multiple Tranches|
|Total Mobilisation||INR 27,545 Cr|
|Ratings||AAA by CRSIL, ICRA, CARE & IRRPL|
|SBICAP Role||Advisor cum Arranger|