 "Delhi-Mumbai Expressway")
DME Development Limited (DMEDL), a wholly-owned entity of the National Highways Authority of India (NHAI), has raised Rs 5,000 crore through maiden 15-year bond offering with variable coupon rates.
The bond, with basic size of Rs 1,000 crore plus green shoe of Rs 4,000 crore, was priced at 6.85 per cent. The coupon would be reset each quarter based on the yield on the three-month treasury bill plus fixed spread of 311 basis points, bond dealers said.
In February 2022, the rating agency CARE reaffirmed “AAA” with stable outlook.
The Delhi-Mumbai stretch is targeted to be completed by March 2023.
