India New Issue-Canara Bank to issue 10-year infra bonds, bankers say

Canara Bank

12/07/2024 11:46

MUMBAI, July 12 (Reuters) - India's Canara Bank  CNBK.NS  plans to raise 100 billion
rupees ($1.20 billion), including a greenshoe option of 50 billion rupees, through a sale of
infrastructure bonds maturing in 10 years, three bankers said on Friday.
    The state-run lender has invited coupon and commitment bids for the issue on Tuesday, they
said. 
    
 
   Here is the list of deals reported so far on July 12: 
                                                                         
 Issuer        Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                            bln rupees)*    date         
                                                                         
 Canara Bank   10 years      To be decided  50+50           July 16      AAA (India
                                                                         Ratings)
               11 year and   To be decided  5+25            July 16      AAA (Icra)
 REC           1 month                                                   
                                                                         
 REC           3 years and   To be decided  5+25            July 16      AAA (Icra)
               1 month                                                   
               5 years       7.36           25              July 12      AAA (Crisil,
 Indian Oil                                                              Icra)
 Corp                                                                    
                                                                         
               2 years and   7.8650         7.50            July 11      AAA (Crisil)
 LIC Housing   1 month                                                   
 Finance                                                                 
                                                                         
               3 years and   8.1701         4.50            July 11      AAA (Icra,
 Aditya Birla  1 month                                                   India Ratings)
 Housing                                                                 
                                                                         
 Aditya Birla  4 years and   8.1168         4.50            July 11      AAA (Icra,
 Housing       10 months                                                 India Ratings)
               5 years       To be decided  5+15            July 15      AAA (Icra,
 HUDCO                                                                   India Ratings)
                                                                         
 
*Size includes base plus greenshoe for some issues



($1 = 83.5066 Indian rupees)

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