India’s Sadbhav Infrastructure issues Rs. 500 million of debentures

By Angela McDaniels

Tacoma, Wash., March 20 – Sadbhav Infrastructure Project Ltd. issued Rs. 500 million of senior secured redeemable debentures, according to a letter to the Bombay Stock Exchange.

The rated and listed tranche II debentures were evenly split between two series, series C and series D, and were issued on a private placement basis.

The company’s finance and investment committee approved the allotment of the debentures at a meeting on Monday.

The debentures will be listed on the wholesale debt market segment of the Bombay Stock Exchange.

The issuer develops, operates and maintains road infrastructure assets. It is a subsidiary of Sadbhav Engineering Ltd., a civil engineering company based in Ahmedabad, India.

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