Data InvIT raises nearly $1 bn in rare bond deal to fund ATC India purchase

Brookfield-backed Data Infrastructure Trust, an Indian infrastructure investment trust (InvIT), has raised $941 million via rupee bonds to fund the purchase of American Tower Corp’s (ATC) local assets, per a term sheet seen by Reuters.

However, in what is a rare structure for the Indian market, only foreign investors are eligible to subscribe to Data Infrastructure’s 79-billion-rupee issue, the term sheet showed.