India New Issue-Aavas Financiers issues 5-year bonds, bankers say

Aavas Financiers

28/10/2024 07:22

MUMBAI, Oct 28 (Reuters) - India's Aavas Financiers  AVAS.NS  has raised 6.30 billion
rupees ($74.94 million) through the sale of bonds maturing in five years, three bankers said on
Monday. 
    The company invited bids from bankers and investors for the issue on Friday, they said.
    Aavas will pay a spread of 148 basis points over the six-month overnight index swap rate,
and the coupon currently works out to be 8.07%. The coupon will be reset and paid semi-annually.
    The company did not immediately reply to a Reuters email seeking comment.
    
 
 Here is the list of deals reported so far on Oct. 28: 
                                                                       
  Issuer     Tenure        Coupon (in %)  Issue size (in  Bidding      
                                          bln rupees)*    date         Rating
                                                                       
                                                                       
 Aavas            5 years  Linked to OIS            6.30  Oct. 25      AA
 Financiers                                                            (Icra)
 
*Size includes base plus greenshoe for some issues



($1 = 84.0670 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Abinaya Vijayaraghavan)
 ((Dharamraj.dhutia@tr.com))