MUMBAI: India’s Kotak Infrastructure Debt Fund plans to raise at least 2.05 billion Indian rupees ($24.84 million) selling bonds maturing in five years and two months, two merchant bankers said on Friday.
The debt fund will pay an annual coupon of 8.30% on the issue, and has invited commitment bids from bankers and investors on Monday, they said.
The notes are rated AAA by ICRA and the issue will be settled on Tuesday.
The issue has a greenshoe option to retain an additional 1.45 billion rupees and will mature in May 2028.
In December, the fund had raised 1.20 billion rupees selling bonds maturing in five years, one month and 19 days at an annual coupon of 7.97%.
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