India New Issue-Bank of Baroda to issue 10-year infra bonds, bankers say

Bank of Baroda

05/09/2024 10:07

MUMBAI, Sept 5 (Reuters) - India's Bank of Baroda  BOB.NS  plans to raise 50 billion
rupees ($595.5 million), including a greenshoe of 30 billion rupees, through infrastructure
bonds maturing in 10 years, three bankers said on Thursday.
    The state-run lender will invite coupon and commitment bids for the issue on Friday, 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. 5
             Issuer                                                              
                       Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                                    bln rupees)*    date         
                                                                                 
 Bank of Baroda        10 years      To be decided  20+30           Sept 6       AAA (Crisil,
                                                                                 India Ratings)
             Hero      2 years and   8.8871         3.52            Sept 5       AA+ (Icra)
 Fincorp               1 month                                                   
                                                                                 
             LIC       4 year and    7.76 (yield)   25              Sept 4       AAA (Crisil,
 Housing Finance       11 months                                                 Care)
 August 2029 reissue                                                             
                                                                                 
             Aditya    5 years       8.10           2+5.50          Sept 6       AAA (Icra,
 Birla Finance                                                                   India Ratings)
                                                                                 
             Data      5 years       9.99 (payable  16.60           Sept 5       AAA (Crisil)
 Infrastructure Trust                quarterly)                                  
                                                                                 
 Data Infrastructure   5 years       9.99 (payable  62.40           Sept 5       AAA (Crisil)
 Trust                               quarterly)                                  
    
*Size includes base plus greenshoe for some issues

($1 = 83.9560 Indian rupees)

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