India New Issue-Central Bank of India sets coupon for Tier II bonds - bankers

Central Bank of India

29/08/2023 08:49

MUMBAI, Aug 29 (Reuters) - Central Bank of India  CBI.NS  has set 8.80% coupon for Basel
III compliant Tier II bonds maturing in 10 years, three bankers said on Tuesday.
    The state-run bank invited coupon and commitment bids from bankers and investors earlier in
the day and accepted bids worth 15 billion rupees ($181.47 million). The issue has a call option
at the end of five years.
 
 
 Here is the list of deals reported so far on Aug. 29: 
                                                                             
 Issuer            Tenure        Coupon (in %)  Issue size (in  Bidding       Rating
                                                bln rupees)*    date         
                                                                             
 Central Bank of   10-yr         8.80           15              Aug. 29      AA-(Crisil
 India                                                                       )
                   2-yr          7.95           5               Aug. 30      AAA (ICRA)
 Sundaram Finance                                                            
                                                                             
                   3-yr          9.50           4.05            Aug. 30      A+ (ICRA)
 Macrotech                                                                   
 Developers                                                                  
                                                                             
 *Size includes base plus greenshoe for some issuances



($1 = 82.6569 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Sohini Goswami)
 ((Dharamraj.dhutia@tr.com))