India New Issue-SMFG India Credit to issue 3-year floating rate bonds, bankers say

Bajaj Finance

10/11/2025 07:21

MUMBAI, Nov 10 (Reuters) - India's SMFG India Credit Company plans to raise up to 14 billion rupees ($157.92 million), including a greenshoe option of 5 billion rupees, through the sale of three-year floating-rate bonds, two bankers said on Monday.

The coupon rate will be a spread of 161 basis points over 12-month overnight index swaps, they said. It has invited commitment bids for the issue on Tuesday.

The company did not respond to a Reuters email seeking comment.

  Here is the list of deals reported so far on November 10:

Issuer
Tenure
Coupon (in %)
Issue size (in bln rupees)*
Bidding date
Rating
SMFG India Credit
3 years
161 bps over mibor overnight index swaps
9+5
November 11
AAA(Crisil)
Kotak Mahindra Prime
2 years 10 months
7.09
7
November 11
AAA (Crisil)
Bajaj Finance Sept 2030 reissue
4 years and 11 months
7.25 (yield)
10+20
November 11
AAA (Crisil, Icra)

   * Size includes base plus greenshoe for some issues

   ($1 = 88.70 Indian rupees)

 (Reporting by Dharamraj Dhutia)

 ((Dharamraj.dhutia@tr.com))