The UTS Bank worked as the only global coordinator for the transaction.
The bond issue saw intense demand, with an order of $.3 billion, which was an oversubscription of about 10.4 times. This offer attracts 144 investors in the key global markets.
Vimi Gupta, head of India and Southeast Asia DCM of India and Southeast Asia DCM, said the tremendous response from global investors reflects both international capital’s credit quality and increasing appetite for infrastructure wealth in India.
With this issue, Varanasi Aurang Rangabad NH Tolway has become the first Indian route concession company to raise US Dollar-defined debt in international capital markets and to receive investment-grade rating from Moody’s and Fitch. Fitch Ratings has assigned the expected rating of ‘BBB- (Exp)’ with a stable view for the proposed US DOLAR Ler Senior Protected.
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VAH, supported by Rodis, under a long -term concession agreement, a project company responsible for expanding the Aurang Rangabad segment of the National Highway 2 (NH -2) in the Aurang Rangabad Segment of the National Highway 2 (NH -2) of the 192.4 km Varanasi. Rodis, Canadian Pension Fund PSP Investments The investment platform, controls the vehicle and continues to strengthen its steps in the structural sector of India.
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