India New Issue-Embassy Office Parks REIT to issue 3-year bonds, bankers say
India New Issue-Embassy Office Parks REIT to issue 3-year bonds, bankers say MUMBAI, Sept 22 (Reuters) - India's Embassy Office Parks REIT EMBA.NS plans to raise 10 billion rupees ($104.6 million) through the sale of bonds maturing in three years, three bankers said on Tuesday.
The firm will pay a coupon of 150 basis points over the three-month overnight index swap rate, which currently works out to 6.97%, and has invited commitment bids for the issue on Wednesday, they said.
The company did not respond to a Reuters email seeking comment.
Here is the list of deals reported so far on September 22:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Embassy Office Parks REIT | 3 years | floating | 10 | September 23 | AAA (Crisil, Care) |
RJ Corp | 3 years | 8.10 | 3.75 | September 23 | AAA (Crisil) |
RJ Corp | 3 years | 8.20 | 6.35 | September 23 | AAA (Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 95.5900 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Jochelle Mendonca)
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