India’s Highways Infrastructure Trust has accepted bids, worth a total of 6.50 billion rupees ($80.44 million), for two bond issues maturing in 39 months and seven years, respectively, three merchant bankers said on Thursday.
The company will pay an annual coupon of 7.71% on the shorter tenor issue and 8.25% on seven-year papers, and had invited commitment bids earlier in the day, according to the bankers.
Highways Infrastructure Trust has accepted bids worth 4 billion rupees on the shorter maturity bonds and 2.50 billion rupees on the seven-year papers.
The notes are rated AAA by CRISIL and the issues will close for subscription on Friday.