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NABARD raises close to Rs 5,000 crore through three-year bonds

REC may visit market with 10-yr paper next week

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Abhijit Lele Mumbai
In the first issue of fund raising through bonds in 2023, National Bank for Agriculture and Rural Development (NABARD) has raised close to Rs 5,000 crore via three-year bonds.

The coupon for the three-year bond was 7.63 per cent. The yield on government bonds with similar maturity was above 7.16 per cent.

Bonds by corporates and financial sector players carry a spread over government paper.

Bond dealers said NABARD was able to get fine rates as supply of paper in the market is low.

The issue by NABARD had a base size of Rs 2,000 crore plus a green-shoe option