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.

(With inputs from agencies.)