Infrastructure News

IRB Infra appoints bankers for dollar bond issue, term sheet shows, ET Infra


India’s IRB Infrastructure Developers has mandated bankers for a potential dollar bond issue, who will arrange meetings with fixed income investors from Monday, according to a draft term sheet seen by Reuters.

The roads and highways developer has appointed Barclays, Citigroup, CLSA, Deutsche Bank, J.P. Morgan, and Standard Chartered Bank as joint bookrunners to arrange investor meetings and calls in Asia, Europe and the United States.

The company is looking to issue a benchmark sized Regulation-S dollar-denominated bonds maturing in eight years and another offering maturing in 7.25 years may follow, subject to market conditions, the term sheet showed.

The proposed notes are expected to be rated BB+ by Fitch and Ba2 by Moody’s, and the company intends to use the proceeds largely for refinancing.

Last week, IRB Infrastructure’s board approved raising funds of up to $550 million via foreign currency denominated notes.

  • Published On Feb 26, 2024 at 12:45 PM IST

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