By Nimesh Vora and Dharamraj Dhutia
MUMBAI (Reuters) -India Infra Buildco, a special purpose vehicle of Hella Infra Market is planning to raise around $300 million to $350 million through the sale of dollar-denominated bonds, two merchant bankers said on Monday.
The company conducted a deal roadshow last week and has mandated bankers for the issue, the bankers said.
India Infra will look to sell bonds with a maturity of three years to three-year and six months, the bankers said, adding that the notes are expected to be rated Ba3 by Moody’s and B+(sf) by Fitch Ratings.
The company has mandated HSBC as the left lead bookrunner and Barclays, DBS Bank, Deutsche Bank, and Emirates NBD Bank PJSC as joint bookrunners, it said in a regulatory filing.
The bookrunners will arrange a series of fixed income investor meetings and calls in Asia, the Middle East, Europe, and the U.S. commencing from Tuesday, according to the filing.
The proceeds would be used to purchase rupee-denominated bonds, which will be issued by Hella Infra, the company’s statement showed.
India Infra did not reply to a Reuters mail seeking clarification on the amount of the fundraise.
(Reporting by Nimesh Vora and Dharamraj Dhutia; Editing by Eileen Soreng)
