Varanasi Aurangabad NH-2 Tollway raises $316.3m in debut dollar bond

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Varanasi Aurangabad NH Tollway raises $316.3 million in its debut international bond issuance with a 5.900% coupon rate. The bonds saw strong demand, attracting 144 investors and raising over $3.3 billion in orders. This marks the first time an Indian road concession has secured US dollar-denominated debt and an investment-grade rating.