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

Canara Bank

16/07/2024 09:47

MUMBAI, July 16 (Reuters) - India's Canara Bank  CNBK.NS  has accepted bids aggregating
to 100 billion rupees ($1.20 billion) for infrastructure bonds maturing in 10 years, three
bankers said on Tuesday.
    The state-run lender had invited coupon and commitment bids from bankers and investors
earlier in the day.
         
 Here is the list of deals reported so far on July 16: 
             Issuer                                                              
                       Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                                    bln rupees)*    date         
                                                                                 
 Canara Bank           10 years      7.40           100             July 16      AAA (India
                                                                                 Ratings)
             REC       11 years and  7.45           30              July 16      AAA (Icra)
                       1 month                                                   
 REC                   3 years and   7.56           30              July 16      AAA (Icra)
                       1 month                                                   
             Tata      2 years and   8.03% (yield)  1.50            July 15      AAA (Crisil,
 Capital Housing Sep   2 months                                                  Icra)
 2026 reissue                                                                    
                                                                                 
 Tata Capital Housing  3 years and   8.03% (yield)  1.90            July 15      AAA (Crisil,
 Nov 2027 reissue      4 months                                                  Icra)
 
*Size includes base plus greenshoe for some issues

($1 = 83.5814 Indian rupees)

 (Reporting by Bhaki Tambe and Dharamraj Dhutia; Editing by Varun H K)
 ((Dharamraj.dhutia@tr.com))