Linklaters advises on NaBFID’s US$4bn GMTN Programme and debut US$750m international bond issuance

Linklaters has advised the arrangers on the establishment of National Bank for Financing Infrastructure and Development’s (NaBFID) US$4bn Global Medium Term Note (GMTN) Programme and the joint lead managers on NaBFID’s debut issuance of US$750m 6.122% senior unsecured notes due 2036 under the programme.

The issuance marks NaBFID’s debut in the international debt capital markets and the first drawdown under its US$4bn GMTN programme. The notes are listed on the India International Exchange and NSE International Exchange at GIFT IFSC and attracted peak orders of over US$2.2bn from investors across the United States, Europe, the Middle East, Africa and Asia. NaBFID is India’s principal development financial institution for infrastructure financing.

The Linklaters team was led by partner and Head of India Practice Amit Singh and capital markets partner Xunming Lim, with support from managing associate Daryl Bryan Chee and associate Reeve Chia.

Amit Singh, partner and Head of India Practice at Linklaters, commented:

“The transaction broadens NaBFID’s funding options and establishes a strong foundation for its future access to the international debt capital markets. Congratulations to NaBFID and everyone involved.”

With more than 50 years of on-the-ground experience in Asia, Linklaters has an established reputation as the leading Indian capital markets practice, offering technical expertise and commercial awareness to create novel solutions to maximise investment opportunities.