India New Issue-Embassy REIT to issue 3-year bonds, bankers say
India New Issue-Embassy REIT to issue 3-year bonds, bankers say MUMBAI, June 19 (Reuters) - India's Embassy Office Parks REIT EMBA.NS plans to raise up to 7 billion rupees ($74.09 million) by selling bonds maturing in three years, three bankers said on Friday.
It will pay a coupon of 7.49% (payable quarterly) and has invited commitment bids for the issue on Monday, they said.
The company did not immediately respond to a Reuters email seeking comment.
Here is the list of deals reported so far on June 19:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Embassy Office Parks REIT | 3 years | 7.49 (payable quarterly) | 7 | June 22 | AAA (Crisil, Care) |
IREDA | 3 year and 6 days | To be decided | 3+12 | June 22 | AAA (Icra, India ratings) |
Torrent Power | 3 year | 8.10 | 7.5 | June 23 | AA+ (Crisil, India Ratings) |
Torrent Power | 5 year | 8.15 | 10 | June 23 | AA+ (Crisil, India Ratings) |
Torrent Power | 7 year | 8.20 | 10 | June 23 | AA+ (Crisil, India Ratings) |
Torrent Power | 10 year | 8.20 | 10.5 | June 23 | AA+ (Crisil, India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 94.4850 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Eileen Soreng)
((Dharamraj.dhutia@tr.com, Khushi.malhotra@tr.com))