India New Issue-AU Small Finance Bank to issue Tier II bonds, bankers say

AU Small Finance Bank

26/03/2025 10:38

MUMBAI, March 26 (Reuters) - India's AU Small Finance Bank AUFI.NS plans to raise 8 billion rupees ($93.34 million), including a greenshoe option of 4 billion rupees, through the sale of Tier II bonds maturing in 10 years, three bankers said on Wednesday.

The lender will pay an annual coupon of 9.20% on this issue and has invited commitment bids from bankers and investors on Thursday, they said.

The issue will have a call option at end of five years.

The bank did not immediately reply to a Reuters email seeking comment.

   Here is the list of deals reported so far on March 26:

Issuer
Tenure
Coupon (in %)
Issue size (in bln rupees)*
Bidding date
Rating
AU Small Finance Bank
10 years
9.20
4+4
March 27
AA (Icra, Care)
Axis Finance
5 years
7.97
5.35
March 26
AAA (India Ratings)
IIFCL
7 years
7.28
10
March 26
AAA (Care, India Ratings)
IRFC
10 years
7.17
30
March 26
AAA (Crisil, Icra, Care)
HDB Financial
2 years
To be decided
2+2
March 27
AAA (Crisil, Care)
HDB Financial
2 years and 8 months
To be decided
1+4
March 27
AAA (Crisil, Care)
NaBFID
10 years
To be decided
10+20
March 27
AAA (Crisil, Icra)
IndiGrid Infra Trust
3-year and 6 months
To be decided
5
March 26
AAA (Icra, Crisil)
IndiGrid Infra Trust
22 years
To be decided
0.7
March 26
AAA (Icra, Crisil)
IndiGrid Infra Trust
22 years
To be decided
6.3
March 26
AAA (Icra, Crisil)
Cholamandalam Investment
2 years
8.19
11.75
March 25
AA+ (Icra, India Ratings)

 *Size includes base plus greenshoe for some issues

($1 = 85.7050 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman)

 ((Dharamraj.dhutia@tr.com))