India New Issue-IREDA sets coupon for 10-year bonds, withdraws 3-year bond issue - traders

CARE Ratings

24/01/2023 09:03

MUMBAI, Jan 24 (Reuters) - Indian Renewable Energy
Development Agency  INAR.NS  has set 7.94% coupon for bonds
maturing in 10 years, while withdrawing three-year bonds, three
merchant bankers said on Tuesday.
    The state-run company had invited coupon and commitment bids
from bankers and investors earlier in the day, and has accepted
bids worth 15 billion rupees ($183.97 million) on 10-year
papers.
    The notes are rated AA+ by ICRA, CARE Ratings and India
Ratings and the issues will close for subscription later this
week.
    In December, the company had raised 5.15 billion rupees
through 10-year bonds at a coupon of 7.79% and withdrew sale of
bonds maturing in three years and one month.
    ($1 = 81.5360 Indian rupees)
 (Reporting by Bhakti Tambe; Editing by Sherry Jacob-Phillips)
 ((Bhakti.Tambe@thomsonreuters.com; Reuters Messaging:
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