Groundbreaking Infrastructure Bond Issuance by TVS Infrastructure Trust

TVS Infrastructure Trust, backed by TVS ILP, has raised Rs 830 crore in the first tranche of its Rs 1,100 crore Non-Convertible Debenture program. This 20-year bond, a first in India's industrial infrastructure, is supported by NaBFID and rated AAA by ICRA.

TVS Infrastructure Trust, an Infrastructure Investment Trust sponsored by TVS Industrial & Logistics Parks (TVS ILP), announced on Monday that it successfully raised Rs 830 crore in the initial tranche of its Rs 1,100 crore Non-Convertible Debenture (NCD) program.

The funding was secured through the issuance of a 20-year bond, with the National Bank for Financing Infrastructure and Development (NaBFID) playing a crucial role by anchoring the issue. This bond issuance, set to mature in 2046, marks a pioneering move within India's industrial infrastructure space.

Ravi Swaminathan, founder and vice-chairman of TVS ILP, and Samuel Joseph Jebaraj, Deputy Managing Director of NaBFID, both highlighted the significance of this investment. While Swaminathan praised the initiative as a landmark development, Jebaraj emphasized its alignment with NaBFID's mission to support infrastructure that contributes to India's sustainable economic growth. The bonds have received an AAA rating from ICRA.