India New Issue-Bank of Maharashtra to issue maiden infrastructure bonds, bankers say

Bank of Maharashtra

30/07/2024 06:40

MUMBAI, July 30 (Reuters) - India's Bank of Maharashtra  BMBK.NS  plans to raise up to
30 billion rupees  ($358.27 million), including a greenshoe of 25 billion rupees, through its
first issue of infrastructure bonds maturing in 10 years, three bankers said.
    The state-run bank has invited coupon and commitment bids for the issue on Thursday, they
said. 
    Earlier this month, the bank had raised 10 billion rupees via Basel III compliant tier II
bonds maturing in 10 years at a coupon of 7.89%. 
     
 Here is the list of deals reported so far on July 30: 
                                                                          
 Issuer         Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                             bln rupees)*    date         
                                                                          
 Bank of            10 years  To be decided            5+25  Aug 1        AA+ (Icra,
 Maharashtra                                                              Careedge Ratings)
 
*Size includes base plus greenshoe for some issues

($1 = 83.7350 Indian rupees)

 (Reporting by Bhakti Tambe and Dharamraj Dhutia)
 ((Bhakti.Tambe@thomsonreuters.com))