India New Issue-Bank of Baroda accepts bids for infra bonds, bankers say

Bank of Baroda

06/09/2024 08:31

MUMBAI, Sept 6 (Reuters) - India's Bank of Baroda  BOB.NS  has accepted bids worth 50
billion rupees ($595.98 million) for infrastructure bonds maturing in 10 years, three bankers
said on Friday.
    The state-run lender will pay an annual coupon of 7.26% on this issue and had called for
bids earlier in the day, they said.
    In August, the state-run bank had raised 50 billion rupees via infrastructure bonds maturing
in 10 years at a coupon of 7.30%.
    
 
    Here is the list of deals reported so far on Sept. 6: 
             Issuer                                                            
                     Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                                  bln rupees)*    date         
                                                                               
 Bank of Baroda      10 years      7.26%          50              Sept 6       AAA (Crisil,
                                                                               India Ratings)
             HDFC    18 months     9.03           5               Sept 3       AA+ (Crisil)
 Credila Financial                                                             
 Services                                                                      
                                                                               
             IREDA   15 years      7.36           15              Sept 6       AAA (Icra)
                                                                               
                      3 years and  To be decided            5+10  Sept 9       AA+ (Crisil)
 Muthoot Finance          1 month                                              
 Oct 2027 reissue                                                              
                                                                               
 
*Size includes base plus greenshoe for some issues




($1 = 83.8950 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
 ((Dharamraj.dhutia@tr.com))