India New Issue-Bank of Maharashtra accepts bids for tier-II bonds - bankers

Bank of Maharashtra

14/09/2023 11:34

MUMBAI, Sept 14 (Reuters) - India's Bank of Maharashtra  BMBK.NS  has accepted bids
worth 5.15 billion rupees ($62.03 million) for its Basel III compliant tier-II bonds maturing in
10 years, three bankers said on Thursday. 
    The state-run bank had invited bids for the bond issue earlier in the day. 
       
  Here is the list of deals reported so far on Sept. 14:
                                                                              
 Issuer             Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                                 bln rupees)*    date         
                                                                              
 Bank of            10-yr         7.98           5.15            Sept. 14     AA+
 Maharashtra                                                                  (Acuite)
             IIFCL  15-yr         7.53           20              Sept. 14     AAA (India
                                                                              Ratings,
                                                                              ICRA)
             PNB      1-yr and 6           8.43             6.5  Sept. 13     AA (Care
 Housing Finance            mnts                                              Ratings)
                                                                              
 Kotak Mahindra     4-yr and 10   To be decided  2.5             Sept. 15     AAA
 Prime reissue of   mnts                                                      (Crisil)
 Jul 2028                                                                     
 Kotak Mahindra     1-yr and 7    7.9712         1+3             Sept. 15     AAA
 Investments        mnts                                                      (Crisil)
 Ugro Capital         1-yr and 6  8.56                  0.5+0.5  Sept. 15     A (India
                            mnts                                              Ratings)
 
 * Size includes base plus greenshoe for some issuances


($1 = 83.03 Indian rupees)

 (Reporting by Bhakti Tambe)
 ((Bhakti.Tambe@thomsonreuters.com))