Vertis Infrastruct.

By Dharamraj Dhutia and Khushi Malhotra

MUMBAI, July 24 (Reuters) - Three Indian infrastructure investment trusts, including the National Highways Infrastructure Trust, are planning to raise up to 43 billion rupees ($499 million) through corporate bonds in the coming weeks, three sources familiar with the matter said.

NHIT is in talks with merchant bankers and investors to raise around 15 billion rupees through three-year bonds, the sources, who did not want to be named because the discussions are private, said.

Cube Highways Trust CUBH.NS is likely to tap the market for about 10 billion rupees in debt, with maturities ranging between three and five years.

Meanwhile, IRB Infrastructure Trust IRBF.NS is preparing for its debut bond issuance, targeting roughly 18 billion rupees through a dual-tranche offering with five and 10-year tenors.

None of the infrastructure investment trusts, or InvITs, responded to Reuters emails seeking comment.

InvITs typically raise capital through a combination of units and bonds.

Bond issuances have gained traction in recent months amid falling yields. According to Prime Database, InvITs and real estate investment trusts (REITs) together raised more than 178 billion rupees in the January–June period.

All three InvITs are in discussions with investors, including the International Finance Corporation, which has previously invested in debt issued by several InvITs, including Cube Highways, according to a termsheet from an earlier offering.

NHIT last tapped the bond market in January, while Cube Highways raised funds through bonds in April.

Insurance firms and pension funds participated in NHIT's previous bond offering, and the sources said they expect mutual funds to show interest this time, given that the tenor aligns with their investment horizon.

($1 = 86.3825 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Nivedita Bhattacharjee)

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July 22 (Reuters) - Vertis Infrastructure Trust VERR.NS:

• VERTIS INFRASTRUCTURE TRUST - SECURES 9 BILLION RUPEES THROUGH SUSTAINABILITY-LINKED BOND

Source text: ID:nNSE4QlypY

Further company coverage: VERR.NS

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MUMBAI, June 6 (Reuters) - India's Highways Infrastructure Trust has accepted bids worth 9 billion rupees ($104.99 million) for bonds maturing in 16 years and seven months, three bankers said on Friday.

The company will pay an annual coupon of 7.40% and had invited bids from bankers and investors earlier in the day, they said.

The company did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on June 6:

*Size includes base plus greenshoe for some issues

($1 = 85.7260 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Nivedita Bhattacharjee)

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MUMBAI, Jan 29 (Reuters) - India's National Highways Infrastructure Trust (NHIT) has accepted bids worth 20.32 billion rupees for separately transferable redeemable principal part (STRPP) bonds with a nine-year and 10-year maturity, two merchant bankers said on Wednesday.

The company will pay a coupon of 7.75% and had invited coupon and commitment bids for the issue on Wednesday, the bankers said.

NHIT did not immediately reply to a Reuters request for comment.

Here is the list of deals reported so far on Jan. 29:

*Size includes base plus greenshoe for some issues

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

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MUMBAI, Jan 23 (Reuters) - India's National Highways Infrastructure Trust (NHIT) plans to raise up to 31.20 billion Indian rupees ($361.05 million), which includes a greenshoe option of 10.20 billion rupees, through the sale of multiple tenor bonds, three bankers said on Thursday.

NHIT will issue separately transferable redeemable principal part (STRPP) bonds with a nine-year and 10-year maturity, while also selling bonds maturing in 17 years.

The company has invited coupon and commitment bids for the issue on Wednesday, the bankers said.

NHIT did not immediately reply to a Reuters request for comment.

Here is the list of deals reported so far on Jan. 23:

*Size includes base plus greenshoe for some issues

($1 = 86.4150 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Sumana Nandy)

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MUMBAI, Dec 10 (Reuters) - India's National Highways Infrastructure Trust has withdrawn its planned bond issue of staggered redemption bonds with a maturity of 20 years, three bankers said on Tuesday.

The company had invited coupon and commitment bids for the issue earlier in the day and has not provided any official reason for the withdrawal, they said.

National Highways Infrastructure Trust did not immediately reply to a Reuters request for comment.

Here is the list of deals reported so far on Dec. 10:

*Size includes base plus greenshoe for some issues

(Reporting by Dharamraj Dhutia
Editing by Sonia Cheema)

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MUMBAI, Dec 4 (Reuters) - India's National Highways Infrastructure Trust plans to raise 14 billion rupees ($165.35 million), which includes a greenshoe option of 7 billion rupees, through the sale of staggered redemption bonds with a maturity of 20 years, three bankers said on Wednesday.

The company has invited coupon and commitment bids for the issue on Tuesday, they said.

National Highways Infrastructure Trust did not immediately reply to a Reuters request for comment.

Here is the list of deals reported so far on Dec. 4:

*Size includes base plus greenshoe for some issues

($1 = 84.6710 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Abinaya Vijayaraghavan)

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Oct 18 (Reuters) - Highways Infrastructure Trust HIGW.NS:

• HIGHWAYS INFRASTRUCTURE - PROJECT SPV EXECUTED CONCESSION AGREEMENT WITH NHAI FOR PROJECT

• HIGHWAYS INFRASTRUCTURE - PROJECT SPV TO PAY UPFRONT CONCESSION FEE OF 66.61 BILLION RUPEES TO NHAI

• HIGHWAYS INFRASTRUCTURE - CONCESSION PERIOD SHALL BE FOR PERIOD OF 20 YEARS

Source text for Eikon: ID:nNSE622bWm

Further company coverage: HIGW.NS

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MUMBAI, Jan 17 (Reuters) - India's Highways Infrastructure Trust has accepted bids worth 5 billion rupees ($60.1 million) for a sale of bonds maturing in three years, three bankers said on Wednesday.

The company will pay an annual coupon of 8.34%, and had invited bids from bankers and investors earlier in the day, they said.

Here is the list of deals reported so far on Jan. 17:

*Size includes base plus greenshoe for some issues

($1 = 83.1350 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Varun H K)

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MUMBAI, Jan 16 (Reuters) - India's Highways Infrastructure Trust plans to raise 5 billion rupees ($60.3 million) through a sale of bonds maturing in three years, three bankers said on Tuesday.

The company will pay an annual coupon of 8.34%, and has invited bids from bankers and investors on Wednesday.

Here is the list of deals reported so far on Jan. 16:

*Size includes base plus greenshoe for some issues

($1 = 82.9370 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Varun H K)

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Jan 15 (Reuters) - PNC Infratech Ltd PNCI.NS:

• APPROVED COMPANY ENTERING INTO MASTER SECURITIES PURCHASE AGREEMENT WITH HIGHWAY INFRASTRUCTURE TRUST

• CO, UNIT AGREED TO SELL 100% STAKE IN ONE OR MORE TRANCHES IN TWELVE SPECIAL PURPOSE VEHICLES TO BUYER

• APPROXIMATE AGGREGATE ENTERPRISE VALUE OF ALL TARGET SPVS OF 90.06 BILLION RUPEES

Source text for Eikon: ID:nNSE5TpHKz

Further company coverage: PNCI.NS

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Jan 5 (Reuters) - Highways Infrastructure Trust HIGW.NS:

• APPROVED ISSUANCE OF NON-CONVERTIBLE DEBT SECURITIES AGGREGATING UPTO 12.25 BILLION RUPEES

Source text for Eikon: ID:nNSE45g8kv

Further company coverage: HIGW.NS

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Dec 18 (Reuters) - Highways Infrastructure Trust HIGW.NS:

• APPROVED ISSUANCE OF UNITS OF CO AT AN ISSUE PRICE OF 82.50 RUPEES PER UNIT

• APPROVED ISSUANCE OF UNITS OF CO WORTH UP TO 21.9 BILLION RUPEES

• ISSUANCE OF UNITS OF CO ON A PREFERENTIAL BASIS

Further company coverage: HIGW.NS

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Oct 20 (Reuters) - Highways Infrastructure Trust HIGW.NS:

• APPROVES ISSUANCE OF COMMERCIAL PAPERS AGGREGATING UPTO 2.75 BILLION RUPEES

• APPROVED AVAILING ADDITIONAL RUPEE TERM LOAN FACILITY UPTO 19 BILLION RUPEES

Source text for Eikon: ID:nNSE5f6JJS

Further company coverage: HIGW.NS

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July 6 (Reuters) - Highways Infrastructure Trust HIGW.NS:

• APPROVED ISSUE OF UNITS AGGREGATING UP TO 5.15 BILLION RUPEES VIA RIGHTS ISSUE

Source text for Eikon: ID:nNSE6TpbDV

Further company coverage: HIGW.NS

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July 3 (Reuters) - Highways Infrastructure Trust HIGW.NS:

• INVESTMENT MANAGER OF CO TO CONSIDER RAISING OF FUNDS THROUGH RIGHTS ISSUE OF UNITS

Further company coverage: HIGW.NS

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May 19 (Reuters) - Highways Infrastructure Trust HIGW.NS:

• MARCH-QUARTER CONSOL PAT 207.1 MILLION RUPEES VERSUS 406.3 MILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 1.60 BILLION RUPEES VERSUS 1.62 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: HIGW.NS

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May 3 (Reuters) - Highways Infrastructure Trust HIGW.NS:

• HIGHWAYS INFRASTRUCTURE TRUST - SIGNED AGREEMENT TO ACQUIRE 100% STAKE IN FOUR SPVS OWNED BY H.G. INFRA ENGINEERING

• HIGHWAYS INFRASTRUCTURE TRUST - DEAL FOR ENTERPRISE VALUE OF 13.94 BILLION RUPEES

Source text for Eikon: ID:nNSE5GPCW1

Further company coverage: HIGW.NS

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