Life Insurance Corporation has bought the first issuance of the longest maturity 30-year bonds this financial year, sold by the National Highway Authority of India (NHAI).
India’s biggest domestic institutional investor bought Rs 2,000-crore worth of the bonds in an online primary transaction. NHAI offered 8.55% coupon on the bonds for the first 10 years while the rate would be reset after every decade based on existing benchmark yields then, dealers said.
