KIIFB (The Kerala Infrastructure Investment Fund Board) to Issue Staggered Redemption Bonds Worth ₹5 Billion

The Kerala Infrastructure Investment Fund Board (KIIFB) plans to issue staggered redemption bonds to raise ₹5 billion ($58 million), including a greenshoe option of ₹3 billion. These bonds will have a tenure of 4 to 10 years and offer a competitive coupon rate of 9.49%, payable quarterly. Bids from bankers and investors are invited today, reflecting strong interest in financing Kerala's infrastructure projects. The bonds are provisionally rated AA(CE) by Acuite and India Ratings, underscoring their investment quality. This move aligns with KIIFB's mission to support critical infrastructure development across the state.

 

Source: Reuters