Spark Financial Holdings ("Spark") acted as the exclusive financial advisor to the transaction.
Spark is pleased to announce the successful closure of a debt round in NDR InvIT led by International Finance Corporation (IFC).
NDR InvIT, an Infrastructure Investment Trust (InvIT) sponsored by NDR Warehousing Private Limited is the first 'Perpetual Warehousing and Industrial Parks' InvIT listed on the Indian Stock Exchange (NSE). The AUM currently at 16.9 million square feet (msf), is spread across 12 cities, 33 industrial parks, with 50+ warehouses, that facilitates 85 clients. NDR InvIT is AAA rated.
IFC has invested USD 75 Million (INR 6,300 Million) in a domestic local currency (INR) Listed Sustainability Linked Bond (SLB) issued by NDR InvIT. This SLB is the first by a warehousing InvIT in India.
Commenting on the successful completion of the transaction:
Mr. Naidu Amrutesh Reddy, Director & Sponsor Group, NDR InvIT Trust remarked, "Spark Capital has been associated with the NDR group for many years now. They have advised the group on multiple equity and debt issuances. It has always been a pleasure working with the teams".
M B Srinivas Rao, Executive Director, Investment Banking, Spark Financial Holdings remarked, "We cherish and value Spark Capital's long association with the NDR group and happy to have worked closely and advised NDR InvIT on their maiden listed bond issuance".