India infra lender targets $4bn in dollar funding by December, exec says
MUMBAI: India’s National Bank for Financing Infrastructure and Development (NaBFID) is targeting a total dollar-fundraise of about $4 billion by December through loans and bonds under the Reserve Bank of India’s discounted hedging facility, its chief said on Thursday. The state-run infrastructure financier aims to raise as much as $1 billion through its maiden bond issue with a 10-year maturity,…
MUMBAI: India's National Bank for Financing Infrastructure and Development (NaBFID) aims to raise about $4 billion in dollar funding by December, according to its chief. The state-run institution plans to issue a $1 billion bond with a 10-year maturity and is evaluating market conditions for favorable rates. NaBFID has already raised $850 million through external commercial borrowing in August and intends to secure an additional $2 billion through loans, including a 15-year facility with the World Bank.
The bank is also exploring partnerships with other multilateral agencies for additional funding. NaBFID previously raised $125 million via a smaller dollar loan in March, marking its first offshore borrowing. The Reserve Bank of India recently permitted banks and state-owned entities to raise funds overseas while accessing a subsidized hedging facility, reducing currency risk costs.
NaBFID aims to finalize its fundraising efforts before the end of the year, when the discounted swap window for these borrowings expires. Locally, the bank aims to nearly double its outstanding loan book to Rs 2 trillion ($20.85 billion) by the end of the fiscal year, up from Rs 1.15 trillion at the end of March 2026.
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