ROADIS India Raises $316.3M Through Dollar Bond Issuance

Varanasi Aurangabad Highway (VAH) has launched a dollar bond sale which raised $316.3 million.  

The bond proceeds will be used for refinancing and further capital investment. VAH is fully owned by the ROADIS Group which is a Canadian Managed pension investment.  

Deutsche Bank, the sole global coordinator for this transaction, stated the bond offering attracted huge interest from international clients with the order book exceeding $3.3 billion, a staggering 10.4 times the initial value.  

VAH has the concession for the construction, operations, and maintenance of NH-2, the section covering 192.4 kilometers from 786 to 978.4 in Uttar Pradesh and Bihar. This project is being implemented in the form of Design Build Finance Operate Transfer (DBFOT) on toll basis of NHDP Phase-V.  

The bonds mature in almost nine years and carry a coupon rate of 5.9 percent.

Kotak Alternate Asset raises Rs 250 cr in first close of Life Sciences Fund 

A total of 144 investors from select global markets participated in the issuance which highlights a positive perception of VAH’s finances and growth opportunities. 

VAH became the first Indian road concession company to raise US dollar-denominated debt in international capital markets and to obtain an investment-grade rating from Moody's and Fitch. 

As we have stated before, VAH is new to the Indian debt capital markets, but this bond in particular showcases VAH’s capability to successfully execute innovative financing strategies. These bonds speak volumes about our unwavering commitment towards India’s growth story,” said Jose Antonio Labarra, chief executive officer of ROADIS. “India is a key market for us and as a result, this successful bond issuance highlights our long term commitment to the country. The financing of VAH showcases our innovative funding skill set.” 

ROADIS manages 416 km of three Indian highways—NH-2, NH-6, and NH-8—across Gujarat, Rajasthan, Uttar Pradesh, and Bihar. 

According to Sameer Gupta, the head of India and Southeast Asia DCM: “The aforementioned response from initial global investors serves to not only portrait the credit quality of the issuer, but equally demonstrates the growing interest of foreign capital in the infrastructure investment opportunities available in India. ”

Varanasi Aurangabad Highway (VAH) has launched a dollar bond sale which raised $316.3 million.  

The bond proceeds will be used for refinancing and further capital investment. VAH is fully owned by the ROADIS Group which is a Canadian Managed pension investment.  

Deutsche Bank, the sole global coordinator for this transaction, stated the bond offering attracted huge interest from international clients with the order book exceeding $3.3 billion, a staggering 10.4 times the initial value.  

VAH has the concession for the construction, operations, and maintenance of NH-2, the section covering 192.4 kilometers from 786 to 978.4 in Uttar Pradesh and Bihar. This project is being implemented in the form of Design Build Finance Operate Transfer (DBFOT) on toll basis of NHDP Phase-V.  

The bonds mature in almost nine years and carry a coupon rate of 5.9 percent.

Kotak Alternate Asset raises Rs 250 cr in first close of Life Sciences Fund 

A total of 144 investors from select global markets participated in the issuance which highlights a positive perception of VAH’s finances and growth opportunities. 

VAH became the first Indian road concession company to raise US dollar-denominated debt in international capital markets and to obtain an investment-grade rating from Moody's and Fitch. 

As we have stated before, VAH is new to the Indian debt capital markets, but this bond in particular showcases VAH’s capability to successfully execute innovative financing strategies. These bonds speak volumes about our unwavering commitment towards India’s growth story,” said Jose Antonio Labarra, chief executive officer of ROADIS. “India is a key market for us and as a result, this successful bond issuance highlights our long term commitment to the country. The financing of VAH showcases our innovative funding skill set.” 

ROADIS manages 416 km of three Indian highways—NH-2, NH-6, and NH-8—across Gujarat, Rajasthan, Uttar Pradesh, and Bihar. 

According to Sameer Gupta, the head of India and Southeast Asia DCM: “The aforementioned response from initial global investors serves to not only portrait the credit quality of the issuer, but equally demonstrates the growing interest of foreign capital in the infrastructure investment opportunities available in India. ”