India New Issue-IREDA to issue multiple tenor bonds - traders

CARE Ratings

20/01/2023 10:38

MUMBAI, Jan 20 (Reuters) - Indian Renewable Energy
Development Agency, also known as IREDA, plans to raise at least
6 billion rupees ($73.97 million) through sale of bonds maturing
in three years and in 10 years, three merchant bankers said on
Friday.
    The state-run company has invited coupon and commitment bids
from bankers and investors on Tuesday between 11 am IST and noon
on the Bombay Stock Exchange's electronic bidding platform.
    Both the bond issuance have a base size of 3 billion rupees
each and a greenshoe option to retain an oversubscription of up
to 12 billion rupees each.
    The notes are rated AA+ by ICRA, CARE Ratings and India
Ratings and the issue will close for subscription next 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 = 81.1130 Indian rupees)
 (Reporting by Bhakti Tambe)
 ((Bhakti.Tambe@thomsonreuters.com; Reuters Messaging:
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