Updated January 1st, 2024 at 19:49 IST
Data Infrastructure Trust eyes 3.20 billion rupees bond sale
The move is to optimise financial operations and potentially restructure the terms of the bond issuance.
The Data Infrastructure Trust is set to embark on a significant financial manoeuvre, aiming to raise 3.20 billion rupees ($38.5 million) through bond issuance. The bonds, maturing in nearly three years, carry a coupon rate of 8.40 per cent. Inviting bids for both coupon rates and commitments on Friday, the company positions itself for this pivotal fundraising initiative.
Notably, the issued bonds will feature a put or call option at the termination of two years and six months, affording flexibility in the financial structure. This move represents a strategic play to optimise financial operations and potentially restructure the terms of the bond issuance.
The reported deals on January 1st highlight a surge in activity within the financial market, exemplified by the specifics of the offering by the trust. With a tenure of 2 years and 11 months, an enticing coupon rate of 8.40 per cent, and a substantial issue size of 3.20 billion rupees, this initiative is slated for bidding on January 5th. Notably, it holds an esteemed AAA rating by Crisil, underscoring the trustworthiness and credibility of the issuer within the market and solidifying its position as a reliable entity in the financial landscape.
The comprehensive list showcases Data Infrastructure Trust's positioning within the financial landscape, securing an esteemed AAA rating from Crisil, ensuring a high level of credibility and trustworthiness in the market.
This initiative mirrors the approach of entities within India's financial sector, leveraging strategic tools like bond sales to fortify their financial standing and stimulate growth. The inclusion of put and call options underlines a nuanced approach to managing financial instruments, reflecting adaptability in a dynamic market environment.
With its prudent financial planning and adherence to high credit standards, India's Data Infrastructure Trust's foray into the bond market stands as a testament to the innovation and adaptability characterising the country's financial domain.
(with Reuters inputs)
Published January 1st, 2024 at 19:49 IST