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NHAI to float Rs 50 bn bonds

Roads & Highways
September 1, 2011September 1, 2011
NHAI to float Rs 50 bn bonds
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National Highways Authority of India (NHAI) is expected to launch tax-free bonds worth about Rs 5,000 crore in the first phase over the next few weeks. The bonds are expected to hit the market by the end of September. The issue proceeds will be used to part fund land acquisition, meeting viability gap funding and annuity payments among others. The recent issue of tax-free capital gains bonds by NHAI failed to evoke strong interest from investors.

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