National Highways Infra Trust to raise Rs 2,350 cr via bonds, bank loans

National Highways Infra Trust (NHIT) is planning to raise up to Rs 2,350 crore through bank loans and bonds to acquire three road assets from state-owned National Highway Authority of India.

NHIT, a BSE-listed infrastructure investment trust (InvIT), already has five operational assets under its wings and now proposes to acquire Agra Bypass, the Borkhedi-Wadner-Kelapur section and the Shivpuri-Jhansi section. It will sign a concession agreement with NHAI for 20 years for them.

Of the Rs 2,350 crore funds planned to be raised, Rs 850 crore will come from long-term bank loans and Rs 1,500 crore from non-convertible debentures. CARE Ratings has assigned Provisional “AAA” with stable outlook to both facilities.