India New Issue-Federal Bank to issue 10-year infra bonds, bankers say

Federal Bank

06/11/2024 06:10

MUMBAI, Nov 6 (Reuters) - India's Federal Bank  FED.NS  plans to raise 15 billion rupees
($178.2 million), including a greenshoe option of 7 billion rupees, through the sale of
infrastructure bonds maturing in 10 years, three merchant bankers said on Wednesday. 
    The private bank has invited coupon and commitment bids from bankers and investors on
Friday, they said.
    The bank did not reply to a Reuters email seeking comment. 

    
 
 Here is the list of deals reported so far on Nov. 6
                                                                      
   Issuer   Tenure        Coupon (in %)  Issue size (in  Bidding      
                                         bln rupees)*    date         Rating
                                                                      
                                                                      
 Federal        10 years  To be decided       7.50+7.50  Nov 8        AA+
 Bank                                                                 (Care)
 
*Size includes base plus greenshoe for some issues



($1 = 84.1780 Indian rupees)

 (Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)
 ((Dharamraj.dhutia@tr.com))