New Delhi, Feb. 26 -- Varanasi Aurangabad NH-2 Tollway Private Limited (VAH), a ROADIS project responsible for the expansion to six lanes, operations and maintenance of the 192-km highway from Varanasi to Aurangabad, has successfully raised USD 316.3 million through a dollar-denominated bond issuance, official sources said on Wednesday.
The bonds have a coupon rate of 5.90 percent and will mature in close to nine years. The funds raised will be used for refinancing and capital expenditure.
The bond offering received an overwhelming response from global investors, with the order book peaking at over USD 3.3 billion, reflecting an oversubscription of approximately 10.4 times. The issuance saw participation from 144 investors across key inte...