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Australia’s AMP Capital proposes $73m investment in India’s Sadbhav Infrastructure
Photo: Engin Akyurt / Unsplash.com
May 7, 2021
AMP Capital, a global investment manager owned by Australian retail and corporate pension conglomerate AMP Group, is making its first infrastructure debt investment in India by proposing a $73 million investment in listed firm Sadbhav Infrastructure.
The investment, which will be in the form of non-convertible debt debentures on a private placement basis, will be a first in India for AMP Capital’s recently established Infrastructure Debt Asia strategy.
AMP Capital earlier said its new Infrastructure Debt Asia strategy seeks to help investors from around the world capitalise on emerging growth opportunities in the region, as demand for basic infrastructure in developing economies continues to increase.
“India offers attractive opportunities for our Infrastructure Debt Asia strategy, combining a significant infrastructure pipeline with increasingly supportive regulatory and government initiatives to encourage greater involvement of private investors,” Simon La Greca, head of infrastructure debt Asia at AMP Capital said.
“We look forward to investing further with high quality and experienced sponsors across the infrastructure sector in India.”
Sadbhav Infrastructure was a road company specialising in the development, operation and maintenance of highways, roads and related projects, with its current road portfolio comprising the development of nine Hybrid Annuity Model road projects located across India, and currently operating four toll road projects located in Maharashtra, Harayana and Gujarat.
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Sadbhav Infrastructure raises Rs 700 cr via NCDs ANI | Updated: Feb 10, 2021 11:19 IST
Ahmedabad (Gujarat) [India], February 10 (ANI): Sadbhav Infrastructure Project Ltd said on Wednesday it has executed debenture trust deeds with Catalyst Trusteeship Ltd to raise up to Rs 700 crore in various tranches and series on a private placement basis.
The proposed long-term funding is in the form of non-convertible debentures with a tenure of more than four years. The investor consortium was led by Allianz Global Investors and AMP Capital. The investment will infuse sufficient liquidity into the company and provide resilience and necessary financial strength to our balance sheet over the long term, said Managing Director Vasistha C Patel.