Page 8 - National Highways Authority Of India
NHAI starts process of raising Rs 25,000 cr via medium-term notes
In line with government's push on capital funding the National Highways Authority of India (NHAI) has begun the process of raising funds through medium term notes worth Rs 25,000 crore over next five years to be listed either on the London Stock Exchange or Stock Exchange of Singapore. The authority is expected to soon receive sovereign ratings from international agencies Moody's and Standard & Poor's.The authority plans to utilize the proceeds from the medium term note (MTN), which usually matures in five to 10 years, for primarily financing the EPC (engineering-procurement-construction) projects that it undertakes."Sovereign ratings from international agencies would ensure fund raising at a lower interest rate for us," an NHAI official said. The interest rate post sovereign rating is expected to be 20-30 basis points lower than what was paid by NHAI earlier and the first tranche of Rs 7000 crore of the total Rs 25,000 crore is likely to be raised this year followed by similar .
 "NHAI starts process of raising Rs 25,000 cr via medium-term notes")
Short tenures of NHAI chiefs make progress path longer
According to an industry expert, frequent change at the top position has affected the sector dearly
 "Short tenures of NHAI chiefs make progress path longer")
Govt to seek details from US authorities in $1-mn NHAI bribery case
Nitin Gadkari had earlier said that strict action would be taken against those found guilty
 "Govt to seek details from US authorities in $1-mn NHAI bribery case")
NHAI to raise Rs 3,300 cr via tax-free bonds
The Issue opens on February 24 and is scheduled to close on March 01
 "NHAI to raise Rs 3,300 cr via tax-free bonds")
