(B.S)
To promote long-term infrastructure debt market, India Infrastructure Finance Company (IIFCL) has participated in the issue of non-convertible debt securities amounting to Rs 325 crore by placing its first e-bid in the issue of an InvIT earlier this week, the company said on Sunday. The NCDs issued by Infrastructure Investment Trust (InvIT) Virescent Renewable Energy Trust (VRET). This marks IIFCL’s first transaction under this initiative, the company said in a statement on Sunday. The NCDs are of a tenor of 10 years. Keeping in mind country’s infrastructure needs and development of bond markets, IIFCL has widened its objectives by investing into infrastructure project bonds, it said.
This would not only lead to further improvement in IIFCL’s asset quality, but also boost the availability of longer-tenor debt finance for infrastructure projects, thereby creating an environment that promotes long-term financing for infrastructure sector, especially through bond markets, it added.
