India New Issue-Bank of Maharashtra accepts bids for bond issue, bankers say

Bank of Maharashtra

17/02/2025 10:42

MUMBAI, Feb 17 (Reuters) - India's Bank of Maharashtra  BMBK.NS  has accepted bids worth
16.12 billion rupees ($185.7 million) for infrastructure bonds maturing in 10 years, three
bankers said on Monday.
    The state-run lender will pay an annual coupon of 7.70% to the investors of this issue and
had invited coupon and commitment bids earlier in the day, they said.
    The lender did not reply to a Reuters email seeking comment.
    
 
   Here is the list of deals reported so far on February 17: 
                                                                          
 Issuer         Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                             bln rupees)*    date         
                                                                          
 Bank of        10 years      7.70           16.12           Feb. 17      AA+ (Icra,
 Maharashtra                                                              Care)
                3 years and   7.42           40              Feb. 17      AAA (Crisil,
 PFC            2 months                                                  Care, Icra)
                                                                          
 PFC            6 years and   7.38           28.35           Feb. 17      AAA (Crisil,
                11 months                                                 Care, Icra)
                10 years      8.34           5               Feb. 17      AA+ (Care)
 Axis Max Life                                                            
 Insurance                                                                
                                                                          
                     5 years           7.65              30  Feb. 21      AAA (India
 Tata Steel                                                               Ratings)
                                                                          
    
 *Size includes base plus greenshoe for some issues



($1 = 86.8200 Indian rupees)

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