India New Issue-Bank of Maharashtra accepts bids for 10-year infra bonds, bankers say

Bank of Maharashtra

01/08/2024 10:04

MUMBAI, Aug 1 (Reuters) - India's Bank of Maharashtra  BMBK.NS  has accepted bids worth
5.90 billion rupees ($70.5 million) for its first issue of infrastructure bonds maturing in 10
years, three bankers said on Thursday.
    The state-run will pay an annual coupon of 7.75% on this issue, and had invited coupon and
commitment bids for the issue earlier in the day, they said.

    
 
  Here is the list of deals reported so far on Aug. 1: 
                                                                                       Rating
 Issuer          Tenure        Coupon (in %)  Issue size (in  Bidding      
                                              bln rupees)*    date         
                                                                           
 Bank of         10 years      7.75           5.90            Aug 1        AA+ (Icra, Careedge
 Maharashtra                                                               Ratings)
 Summit Digitel  5 years and   To be decided  9.50            Aug 2        AAA (Crisil,
 Infrastructure  7 months                                                  Careedge)
                     10 years           7.98               5  Aug 2        AAA (Crisil, Icra)
 India                                                                     
 Infradebt                                                                 
                                                                           
 
*Size includes base plus greenshoe for some issues




($1 = 83.7160 Indian rupees)

 (Reporting by Bhakti Tambe and Dharamraj Dhutia
Editing by Sonia Cheema)
 ((Dharamraj.dhutia@tr.com))